🚀 Bitcoin Price Coiling Up — Is a Surge Past $110K on Deck?

Bitcoin is heating up again, climbing above $108,500 and holding strong above the 100-hour SMA as it continues consolidating recent gains. After reclaiming the $107,000 level with conviction, BTC surged past the $110,000 mark before encountering seller pressure near $110,578. Now, the market is taking a breather, with price action consolidating just above the 23.6% Fib retracement of the recent move from the $105,116 swing low.

A short-term ascending channel has formed on the hourly chart, with dynamic support around $109,500, signaling the bulls are still in control. As long as BTC holds above the $107,850 zone — a key Fib level — the chances of a bullish continuation remain high. A clear break above $110,500 could pave the way for a run toward $112,000, and if momentum builds, even $113,200 may come into view.

That said, if Bitcoin struggles to reclaim $110K, a dip toward $108,800 or $107,850 could follow. A break below that level could threaten the current trend and push BTC back toward $106,400 or even $105,000 — a critical support base.

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MACD: Losing steam but still bullish

RSI: Above 50 — trend intact

Support: $109,500 / $107,850

Resistance: $110,500 / $112,000

Bitcoin remains in a bullish coil, and the next move could be explosive. Watch the $110K level — a clean breakout could flip the script on this consolidation phase.

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