Bitcoin needs to break 107,000 to break the deadlock?

Since May 30, Bitcoin has been consolidating in a narrow range between $103,500 and $106,800, and has fallen below this range in the past 24 hours.

Michael van de Poppe, founder of MN Capital, stated that $107,000 is currently a key resistance level that needs to be overcome to trigger a new wave of upward momentum and set a new historical high.

Analyst Jelle believes that the period of Bitcoin's fluctuations may continue for a few more days until the price breaks above $105,000, which is the position of the 50-day moving average on the 4-hour K chart.