NewsBTC

3 July 2025

7 0

Bitcoin Price Surges Toward $110,000 Resistance Level

Bitcoin Price Analysis

• Bitcoin initiated an increase from the $105,200 zone.
• Current trading above $107,500 and the 100 hourly Simple Moving Average.
• Break above the bearish trend line at $106,300 noted on the BTC/USD hourly chart.
• Potential for further increase if Bitcoin stays above $107,000.

Bitcoin regained momentum, clearing resistance levels around $106,200. The price surged towards $110,000, testing key Fibonacci extension levels. Immediate resistance is at $109,400, with major resistance at $110,000. A close above this could push the price toward $112,000 and potentially $113,200.

• If unable to surpass $110,000, a decline may occur.
• Immediate support at $108,750; major support at $108,000.
• Further declines could test support levels at $107,200 and $106,500.
• Main support remains at $105,000.

Technical indicators show a weakening bullish MACD, while the RSI remains above 50.