Bitcoin Price Surges to New All-Time High Above $109,000
Bitcoin Price Analysis
Bitcoin (BTC) has reached a new all-time high, trading above $109,000, with potential to rise toward $112,000.
- Price initiated an upward move from the $106,000 area.
- Currently trading above $107,000 and the 100-hour moving average.
- A bullish trend line supports at $107,800 on the hourly chart.
- Potential bullish momentum if resistance at $110,850 is cleared.
New All-Time High Achieved
BTC moved up from the $104,200 support zone, clearing $106,000. The price surged past $107,500, reaching a peak near $110,698 and consolidating gains above the 23.6% Fibonacci retracement level.
Key resistance levels include:
- $110,850 (immediate)
- $112,000 (first major)
- $112,500 (next major)
- $113,800 (possible target upon further gains)
- $115,000 (potential upper limit)
Potential for Correction
If BTC cannot surpass $112,000, it may correct. Key support levels are:
- $109,000 (immediate)
- $107,500 (major support)
- $106,500 (next support)
- $105,000 (further losses may lead here)
- $104,200 (main support)
Technical indicators show:
- MACD gaining momentum in the bullish zone
- RSI above 50