Bitcoin Price Surpasses $103,200 Before Facing Resistance Near $105,500
Bitcoin (BTC) price is currently experiencing a correction after climbing above $103,200. Key points include:
- BTC surpassed the $101,500 resistance and reached a high of $106,414.
- The price is now trading above $103,000 and the 100 hourly Simple Moving Average.
- A bullish trend line has formed with support at $103,500.
- Immediate resistance levels are at $105,500 and $106,500, with potential for further increases toward $108,800 and $110,000.
- If BTC fails to breach $105,000, it may decline, finding immediate support around $103,500 and major support near $102,000.
Technical indicators show the MACD is losing momentum in the bullish zone while the RSI remains above 50.