Currently trading at $108,696 (+2.39%), Bitcoin is demonstrating strong momentum following its breakout from a bullish flag pattern.
The pattern was formed using a $36K flagpole ($74K→$110K), projecting a potential target of $145K.
The technical case is supported by bullish flag confirmation, with critical support levels at $105K and $97K and immediate resistance at $109.2K.
Principal Catalysts •
Institutional flows are improving:
BlackRock ETF ($1.2B quarterly inflow), Grayscale approval, and corporate adoption; technical indicators are aligned: MACD crossover and rising volume without overbought RSI.
The Breakout Analysis identifies $108K as a crucial trading threshold.
The trading strategy is to enter longs on sustained trading above $108K with stops below $97K, target $130K as an intermediate level before the $145K projection, and keep an eye on volume for confirmation and market trends. •
The community's sentiment is 78.4% bullish, with a daily volume of $55.3 billion.
Changes in regulations are one risk factor.