Bitcoin analysis today indicates that it is stabilizing and preparing to test critical resistances. The chart shows that the price has been moving within an ascending channel since the middle of the month, with relative stability at current levels. The price is currently approaching a major resistance at $110,125, an important area that may determine the next direction ¹.
Technical analysis shows that the short-term moving averages support the uptrend on the current time frame. Low trading volumes during corrections also indicate weakness in sellers. Additionally, technical signals show that the major resistance at $110,125 may be tested soon.
If the price breaks the $110,125 level, the next target will be at $112,000, with a potential target of $115,000 in the medium term. In case of a decline, the support at $105,000 provides an opportunity to re-enter, and if broken, the price may head towards the stronger support level at $100,000 ¹.