$BTC

The Bitcoin market has once again become a focal point for investors. The price of Bitcoin has shown a notable upward trend, managing to break through the key resistance level of $106,000 per coin with a daily increase of over 2%, indicating strong market vitality. This price movement not only reflects the rising positive sentiment in the cryptocurrency market but also indicates a gradual recovery of investor confidence, which has become the main driving force behind the current rise in Bitcoin's price.

Currently, the price of Bitcoin is at a critical crossroads. From a daily chart perspective, after reaching a daily high of $107,265, Bitcoin failed to effectively break through the key resistance level of $108,000 and has since retreated to hover around $106,940. On a 4-hour timeframe, the MACD indicator shows that the chart is still in the positive zone, but the rate of increase has slowed down, indicating a short-term weakness in the upward momentum. At the same time, the RSI indicator stands around 65, close to the overbought territory, suggesting that the market is facing short-term correction pressure.

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