Bitcoin Price Eyes New Gains — Is the Next Leg Higher Starting? 📈
Bitcoin recently tested the $103,200 zone, signaling a potential new phase of price action with a focus on recovery. The cryptocurrency is currently consolidating and may attempt to push above the $106,000 resistance level. After a decline, Bitcoin is trading above $105,000 and the hourly Simple Moving Average.
Key resistance points are forming at $105,550 and $106,800. Overcoming these could propel Bitcoin toward $108,000 and even $110,000. Conversely, failure to clear $106,000 may lead to another drop, with supports at $105,000, $104,200, and possibly $102,500.
Technical indicators signal bullish momentum, with the MACD gaining pace and the RSI above 50. Investors watch closely as Bitcoin maneuvers through this critical phase.
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