$BTC

Today, the price of Bitcoin has risen to $107,392, pushing the market capitalization to $2.12 trillion, and the 24-hour trading volume to $19.68 billion. Trading within an intraday range of $105,112 to $107,499, Bitcoin has demonstrated a strong short-term bullish momentum, confirmed by several technical indicators and timeframes.

The hourly chart reflects a breakout scenario from consolidation, marked by a sudden surge in bullish momentum. After several days of sideways movement from June 6 to June 8, Bitcoin surged sharply upwards on the 9th. The prevailing momentum suggests further upward movement, with the next psychological resistance at $108,000 and then $110,000.

The 4-hour chart signals a classic V-shaped recovery, supported by strong bullish volume, as Bitcoin sharply bounced off the support level at $100,426. This move broke previous resistance levels, and momentum favors further growth, especially if price action can hold above $107,500.