Bitcoin Is Preparing to Break Through – Is a New All-Time High Ahead?

Bitcoin continues to show a strong rise as it has surpassed the resistance level of $106,000. After a correction to $102,000, the price of BTC has rebounded strongly and is currently maintaining above the 100-hour moving average, opening up prospects for breaking through the next important resistance levels. 🔍 Recent price movements The price of Bitcoin has risen again from the support zone of $102,000 and quickly surpassed the resistance level of $104,200. Strong buying power helped BTC exceed the threshold of $105,000 and reach $106,000 – an area that was once a strong resistance. The increase has also surpassed 76.4% of the Fib retracement level of the drop from the peak of $107,042 to the bottom of $102,100 – a signal reinforcing the short-term uptrend. On the hourly chart of the BTC/USD pair, a short-term upward trend line appears with support near $105,800, indicating that market sentiment is still leaning towards the buyers. 💡 Bullish scenario The nearest resistance level is the area of $107,000. If BTC can close above this level, the upward momentum may be extended. The next strong resistance is at $107,500. Breaking through this level could pave the way for a rise to the sky towards the target areas: $108,800, $110,000 – an important psychological milestone. If the upward trend continues, Bitcoin has the potential to establish a new historical peak in the short term. 🔻 Adjustment scenario However, if BTC cannot surpass $107,000, a short-term correction may occur: First support: $105,800 - coinciding with the upward trend line. If this support is broken, the price may retest $105,000. A more significant support level lies at $104,200. If it continues to weaken, the price could drop to the $103,500 region, even $102,500 - where it serves as the main support in the short term. 📊 Technical indicators MACD: Still in the positive zone – supporting the upward trend. RSI ( Relative Strength Index ): Above 50, indicating that upward momentum is still present. 🧠 Conclusion Currently, Bitcoin is showing significant strength after bouncing back from the $102,000 level. With the breaking of several resistance levels, BTC has the potential to target the $110,000 level and even further if it surpasses $107,500. However, investors need to closely monitor important support levels in case a correction occurs, especially the zones $104,200 and $102,500. Risk management and avoiding "FOMO" are essential in the current period of high volatility.