Bitcoin Holds the Line — Are Bulls Gearing Up for the Next Big Rally?
Bitcoin stayed over $107,500. BTC may climb over $109,200 barrier after regaining losses.
Bitcoin made a comeback over $108,000.
The price is over $108,500 and the 100-hour SMA.
The hourly BTC/USD chart shows a negative trend line with resistance at $109,050.
If it remains over $107,500, the pair may rise again.
Bitcoin Price Sees Upturn
Bitcoin fell again after failing around $110,000. BTC fell below $108,500 and $108,000 before bulls emerged.
A low at $107,650 sparked a comeback. Moved beyond $108,500 resistance. Price rose beyond the 50% Fib retracement level of the $109,700 swing high to $107,500 low decline.
Bitcoin is over $108,500 and the 100-hour SMA. First major resistance is around $109,050. The hourly BTC/USD chart shows a negative trend line with resistance at $109,050.
Next resistance may be $109,200, the 76.4% Fib level of the decline from the $109,700 swing high to the $107,500 low. A closing above $109,200 barrier might boost prices. If the price rises, it may challenge $110,000 resistance. More advances might push the price beyond $112,000. The primary goal may be $115,000.
Another BTC Drop?
Bitcoin may fall again if it fails to break $109,200. Support around $108,400 is immediate. Near $108,200 is the first big support.
Around $107,500 is the next support. More losses might push the price toward $105,500. BTC may go below $103,500, the primary support.
The technical indications
The MACD is rising in the positive zone.
Relative Strength Index hourly BTC/USD RSI is over 50.
Major Support Levels: $108,500, $107,500.
Key Resistance Levels: $109,200, $110,000.
#BTCWhaleMovement #OneBigBeautifulBill #MuskAmericaParty $BTC