Bitcoin Price Inches Toward All-Time High — Can Momentum Finish the Job? 📈
Bitcoin price has recently cleared the $105,500 zone, initiating a fresh upward movement from $102,500. The price is now consolidating above $103,500, bolstered by a key bullish trend line with support at $104,200. BTC might gain additional momentum if it surpasses $106,000, aiming for $108,000 or possibly towards its all-time high.
The bulls established a base above $103,500, propelling the price beyond $104,200 and $105,000. A recent high of $107,042 was formed before a minor correction below $105,500. Nevertheless, it remains stable above $104,000. More momentum above $107,500 could test $108,800, with further gains potentially reaching $110,000.
If Bitcoin doesn't breach $105,500, a correction could occur, with immediate support at $104,500 and major support at $104,200 and $103,500. Below $100,500, bearish momentum may strengthen.
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