🚀🚀🚀 Bitcoin Momentum Soars Past Key Resistance Level 🚀🚀🚀
Market Overview
Bitcoin broke through the crucial $108,500 resistance, reaching $110,500 before settling at $109,061 (+0.84%). This breakthrough turns previous resistance into new support, strengthening the market position. BTC Market Analysis confirms the weekly chart shows sustained momentum. 🔥🔥🔥
Key Drivers
• Institutional accumulation from Metaplanet & European Blockchain Group
• $216 million whale long position opened
• Elon Musk's America Party endorsement boosting sentiment
• Technical indicators: MACD positive crossover with neutral RSI (59)
Trading Implications
• Resistance zone: $110,000–$112,000 (breakthrough target: $145K–$165K)
• Support level: $105,000–$108,000
• Strong fund inflows (+321.26 BTC) with peak buying volume
• Currency long-short ratio at 38.09 shows aggressive positioning
• Target projection: $115K–$116K by month-end
Community Sentiment
85.4% remain bullish thanks to support level stabilization & political tailwinds, while 14.6% highlight risks from a dormant whale moving 80,000 BTC and a potential double-top near $110K.
