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Rakesh Upadhyay
3 hours ago
Bitcoin news update: BTC range tightening hints at price break to new highs
Bitcoin’s trading range tightens as bulls buy minor corrections while pushing BTC’s average daily trading price higher.
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Price Analysis
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Key point:
Bitcoin is finding support at $107,245, showing investor sentiment remains positive, and every minor dip is being purchased.
Bitcoin
$108,848
is attempting to bounce off the moving averages, indicating buying on dips. Although the price is just below the all-time high of $111,980, it is not yet in the overvalued zone. CryptoQuant contributor Axel Adler Jr. said in a post on X that the Mayer Multiple at 1.1x was “within the neutral zone (0.8–1.5х).”
Could Bitcoin break out of its all-time high, resuming its uptrend? Let’s analyze the charts to find out.
Bitcoin price prediction
Bitcoin is being squeezed between the 20-day exponential moving average (EMA) ($107,314) and the overhead resistance of $110,530.
