Technical analysis of Bitcoin price with the ascending triangle approaching the level of $105,000

On the two-hour price chart, the price of Bitcoin is oscillating within an ascending triangle pattern formed by gradually rising lows and a horizontal resistance level at $105,000, while the 50-period Exponential Moving Average (EMA-50) at $105,252 acts as a dynamic resistance level.

Momentum indicators suggest a potential price breakout is imminent.

Proposed trading plan:

Entry: If the price rises above the level of $105,500 and closes above it.

Target levels: $107,200 and $108,351 respectively.

Stop loss: Below the trendline at $103,400.

MACD Indicator: Located in a neutral zone awaiting confirmation of an upward or downward breakout.

Candlesticks: Several doji candlesticks and some spinning top candles are forming near the resistance level.

Summary:

The price of Bitcoin is relatively stable at an important resistance area, while real-world catalysts - such as regulatory clarity and new staking services - contribute to boosting investor confidence. If the price succeeds in breaking the level of $105,500, this could lead to the beginning of a new wave of increases within the bullish Bitcoin cycle of 2025.