#BitEagleNews Bitcoin Price Analysis: Potential Upside Amid Key Resistance Levels

AI Summary

According to Cointelegraph, Bitcoin is currently finding support at $107,245, reflecting positive investor sentiment as minor dips are consistently purchased. The cryptocurrency is attempting to rebound from its moving averages, suggesting buying interest during price declines. Despite trading just below its all-time high of $111,980, Bitcoin is not yet considered overvalued. CryptoQuant contributor Axel Adler Jr. noted that the Mayer Multiple stands at 1.1x, which is within the neutral zone of 0.8 to 1.5x.

Bitcoin's price is currently squeezed