Bitcoin Price Blasts to New All-Time High — Bulls Take the Lead 📈
Bitcoin price has made a significant upward move, achieving a new all-time high above $109,000. This bullish momentum is supported by trading above $107,000 and the 100 hourly Simple moving average. A key bullish trend line provides additional support at $107,800 on the hourly BTC/USD chart from Kraken data.
If Bitcoin surpasses the $110,850 resistance, it could gather bullish momentum for further gains towards the $112,000 and potentially $113,800 levels. Technical indicators such as the hourly MACD and RSI are currently in bullish zones, reinforcing this outlook.
However, should Bitcoin fail to rise above the $112,000 resistance, correction could occur. Immediate support is at $109,000, with major supports at $107,500 and $106,500. The main support level stands at $104,200, crucial for preventing bearish momentum.
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