Bitcoin is currently trading near $107,000–$108,000, showing strong support above the $105,000 mark and key moving averages like the 20-day and 50-day EMAs[1][2]. Market sentiment is cautiously optimistic, with investors accumulating on dips rather than selling, and the Fear & Greed Index shifting from Fear to Neutral[2].

**Short-term forecast:**

Bitcoin is testing a key supply area between $108,000 and $110,000. If bulls maintain pressure, a breakout above $110,000 could open the door toward $114,500 or even $125,000[3][4]. However, if Bitcoin fails to hold above $104,000–$106,000, a pullback toward $99,900 is possible, but this is currently seen as less likely[3][2].

**Technical indicators:**

- **RSI (14):** Around 56.38, indicating moderate bullish momentum without being overbought[3].

- **Support:** $105,000, $103,000, $99,900[2].

- **Resistance:** $108,500, $110,200, $112,000[2].

Most analysts expect Bitcoin to remain bullish in the near term if it sustains above key support levels