Bitcoin continues its bullish momentum, recently surging above $105,500. After bouncing from the $102,500 support level, BTC has been climbing steadily and is now consolidating, possibly eyeing the $108,000 mark.The price has remained above $103,500 and the 100-hour Simple Moving Average (SMA). A bullish trend line has formed on the hourly $BTC /USD chart, providing support around $104,200. If Bitcoin manages to break past the $106,000 resistance, we could see a strong push higher.BTC Bulls in ControlBTC broke through key levels at $103,500 and $104,200, reaching as high as $107,042 before facing some selling pressure. The price corrected back below $105,500 and the 50% Fibonacci retracement level of the $103,346 to $107,042 move.Still, Bitcoin remains above $104,500 and is holding the bullish trend line near $104,200. Immediate resistance lies around $105,500, with major resistance levels at $106,000 and $107,500. A close above $107,500 could send BTC soaring toward $108,800 — and possibly beyond $110,000, setting the stage for a new all-time high.Bearish Scenario: Another Drop?If BTC fails to clear $105,500, a short-term correction could follow. Immediate support sits at $104,500, with stronger support around $104,200. A break below $103,500 might open the door to further losses toward $102,200 or even $100,500 — a key support zone.Technical Indicators:MACD (Hourly): Losing momentum, but still in the bullish zone.RSI (Hourly): Above 50, showing moderate strength.
Support Levels: $104,200, $103,500.
Resistance Levels: $105,500, $106,000, $107,500.
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BTC bounces from $102.5K, now hovering above $105K. Key resistance at $106K. A breakout could trigger $108.8K+ moves. But failure here might pull BTC down to $100.5K.
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