Bitcoin Gathers Strength Below $108K — Breakout Toward $115K Ahead

Bitcoin has remained solid recently, hovering slightly around $107,000 after briefly topping $108,000.

Technical analysis from a prominent crypto analyst on TradingView showed an intriguing structural setup on Bitcoin's daily chart. Bitcoin is in a compression period that might lead to a $115,000 breakthrough, according to analysts.

Under $108,000 Resistance, Compression Structure
Bitcoin is tracking the S&P 500 and Nasdaq, which have rebounded after Middle East geopolitical concerns eased. Crypto expert RLinda posted on TradingView about a structural scenario on the D1 chart that might lead to a $115,000 breakthrough if resistance levels are broken.

RLinda says Bitcoin is compressing below $108,100 barrier. After a false breakthrough over $100,000, the analyst says there was a brief dispersion and an active accumulating zone. Since June 25, the daily chart shows price action steadily narrowing inside the $106,500 to $108,100 area, which the analyst labeled a break before probable growth.

This setup has clear limits, with support around $106,500 and immediate resistance at $108,100. Bitcoin would be within striking reach of its all-time high at $111,000 if it breaks over this immediate barrier. Before a fresh uptrend, a short-term dip toward $105,650 is probable.

Bitcoin's price movement is pushing on this $108,000 resistance level, generating momentum for a breakthrough. Monitoring resistance levels around $108,100, $108,900, and $110,400 is crucial. Bitcoin's price being at the top of the $106,500–$108,100 structure makes the breakout scenario more likely.

The daily and weekly candlestick charts show no signs of a fall, but the expert stated that a brief retreat to $105,650 or $104,650 is possible. Even a retreat would likely be a retest and not change the setup.

Bitcoin is now trading at $107,457, up 0.5% in 24 hours. The breakthrough trigger remains $108,100. If broken, Bitcoin might reach $115,000 highs.

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