$BTC

Here’s the current technical outlook for Bitcoin (BTC), drawing on both chart-based analysis and recent market news:

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📈 Price Action & Key Levels

BTC is trading in the $106k–$110k range, near May’s all-time high (~$111.9k) .

Short-term support lies between $104k–$105k, reinforced by strong demand zones and institutional accumulation .

Resistance clusters at $108k–$110k, with the major threshold at the prior high of $111,980 .

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Technical Indicators & Patterns

A bullish golden cross between the 50-day and 200-day moving averages signals long-term upward momentum .

BTC has broken out of a flag/descending triangle on daily charts—a classic bullish continuation setup .

On the 4‑hour chart, Smart Money Concepts show a recent break-of-structure above $106k and bullish Change of Character patterns .

Bollinger Bands are expanding, suggesting rising volatility; EMA alignment (20/50/100/200) on 4H supports the upside .

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Momentum & Volume

The 4‑hour momentum indicator and Awesome Oscillator are both flashing bullish signals .

OBV (on‑balance volume) on daily charts shows increased accumulation despite earlier sideways movement .

However, overall volume remains comparatively low for a rally, hinting at a slower burn upward .

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Risk & Caution

The 50-day SMA spread is tightening, a potential sign of momentum fatigue and retracement risk (~10%) .

A break below $104k risks revisiting deeper support levels like $100k–$103k, undermining bullish patterns .

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Summary & Outlook

BTC is riding a moderately bullish wave: holding support above $104k, breaking key patterns, and supported by momentum and EMA alignment. Still, thin volume and narrowing moving average spreads suggest caution. A clean daily close above $108k–$110k could propel BTC toward new highs (~$112k+), while failure below $104k may unwind recent gains and lead to retracements near $100k. Traders should look for confirmation via breakouts or breakdowns before oversizing positions.