$BTC The price of Bitcoin today fluctuates between $108,832 and $109,067, indicating ongoing strength in its recovery trend.

With a market capitalization of $2.16 trillion and a 24-hour trading volume of $23.73 billion, Bitcoin has shown fluctuations in a narrow intraday range from $107,591 to $109,067.

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The hourly chart of BTC/USD illustrates a short-term recovery following a recent sell-off, highlighted by a series of higher lows and strong green candles. Bitcoin found solid support at $107,471 and is testing short-term resistance around $109,711.

Volume spikes accompanied these movements, reinforcing the bullish momentum.

Traders find entry points between $108,000 and $108,500 during small pullbacks, aiming for exits when resistance reaches $109,500 to $110,000. This signals potential short-term breakouts if buying pressure remains.

On the four-hour chart, Bitcoin shows consolidation with a slight bullish bias.

The price is coiling between support at $107,238 and resistance at $110,557.

Candle formations from July 5 to 7 showed market indecision, but a recent breakout attempt signals hidden upward bias.

A retest of $108,000 with strong volume will confirm a mid-term long position, while exit levels are determined between $109,800 and $110,500 if momentum weakens.

From a macro perspective, the daily chart shows Bitcoin recovering from a low of $98,240.

The trajectory remains upward, albeit uneven, with buyers entering around the support zone of $104,000 to $105,000 at the end of June.

Key resistance at $110,587 remains unbroken, and traders are closely watching for a sustained move above $108,000 to confirm the continuation of the bullish trend.

Exits between $110,000 and $111,000 may offer justified profits around historical resistance levels.

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Bullish verdict:

The convergence of strong buy signals for Bitcoin across all major moving averages, combined with bullish entries based on momentum and the moving average convergence divergence (MACD), suggests favorable conditions for further growth.

If the price holds above $108,000 and breaks $109,500 with volume confirmation, the path to retesting $110,500 to $111,000 looks technically justified.

Bearish verdict:

Despite the bullish bias, many oscillators remain neutral, and the market has not yet broken the key resistance at $110,587.

A drop below $107,500 nullifies the bullish structure and opens the door for testing support in the $105,000 zone or lower, especially if volume dries up and momentum weakens.