It maintains its strength at $107,000 and enters the final phase to test its all-time high.

Analysts expect it to reach a new all-time high, with all eyes focused on the recent resistance level at $108,900.

Significant pressure on shorts enhances bullish momentum as bulls gain full control.

The recent price movement of Bitcoin indicates the potential for a significant move on the horizon. After surpassing critical liquidity levels, Bitcoin appears ready to challenge its last resistance level before reaching its all-time high.

This momentum comes amid increased market activity, significant liquidations, and cautious technical indicators. With bulls targeting the $108,900 level, the coming days could be crucial.

What is the last obstacle to achieving the all-time high?

Bitcoin surpassed the resistance level at $105,797, confirming the strong bullish trend in the market. As of the time of publication, the price of Bitcoin was $107,538, recording a 1.72% increase over the past 24 hours and a 2.70% increase over the past week.

This increase aligns with Van de Poppe's analysis, which emphasizes the importance of the $108,900 level as a critical resistance level. A break above this level could lead to a rise towards its historical highs.

However, traders should exercise caution. Bitcoin has absorbed significant liquidity, indicating a possibility of a slight pullback. It is likely to drop towards $105,800, and this level now represents short-term support.

If buyers defend this level, the situation will be set for consolidation followed by a sharp rise. Conversely, if Bitcoin fails to hold above $105,500, lower levels at $103,000, or even $100,000, may be tested.

The currency has captured liquidity.

This is great, there is significant bullish momentum here.

However, this is the last obstacle before achieving the all-time high.

I believe we will see slight stabilization and head towards achieving an all-time high in the next two to three weeks at most.

Technical indicators show mixed signals.

BTCUSD daily price

While the price trend remains bullish, the momentum indicators paint a clearer picture. The MACD line is slightly below the signal line, indicating a retreat in bullish strength. Additionally, the chart of indicators shows slight negativity, suggesting a temporary halt in bullish momentum.

At the same time, the Relative Strength Index stands at 55.93, indicating a neutral market. The market has not yet reached overbought or oversold conditions, allowing room for movement in either direction.

It is noteworthy that liquidation data reflects violent market reactions. As of June 25, over $56 million in short positions were liquidated, compared to only $6.34 million in long positions.