#ShareYourThoughtOnBTC Bitcoin (BTC/USDT) $BTC
is currently trading around $110,017, showing a +2.82% gain in the last 24 hours. The price has recovered strongly from the recent dip to $106,316, forming a short-term bullish reversal on the 1-hour chart. The immediate resistance stands near $111,190, which was the recent high, while key support lies at $108,900 and $107,500.
The moving averages show mixed signals — the short-term MA(7) at $109,823 has just crossed above MA(25) at $109,314, indicating a bullish crossover, suggesting short-term buying momentum. However, the longer-term MA(99) near $111,007 remains above the current price, showing that $BTC still faces overhead resistance before confirming a stronger uptrend.
Volume levels are moderate, reflecting cautious optimism among traders after the latest recovery. A decisive breakout above $111,200 could push $BTC towards the next resistance around $113,200 – $113,500. Conversely, a rejection from this level could see a pullback to the $108,000 – $107,000 support zone.
Overall, market sentiment appears mildly bullish, supported by the short-term moving average alignment and higher lows formation. Traders should watch for a sustained move above $111,000 for confirmation of continued bullish momentum. If BTC maintains support above $109,000, it could pave the way for another rally attempt toward $113K – $115K. Caution is advised, as volatility may increase near resistance levels.