Bitcoin Trades Steady Near $107,000 Amid Breakout Potential to $115,000

Bitcoin is currently trading just above $107,000 after briefly reaching $108,000. A technical analysis indicates that Bitcoin is in a compression phase below the $108,100 resistance level, with potential for a breakout to $115,000.

Key Points

Price action has stabilized near $107,000 after recent highs.
Compression structure forming indicates possible upward movement.
Support established at $106,500; resistance at $108,100.
Breakout above $108,100 could lead to resistance levels of $110,400 and approach all-time highs around $111,000.
Temporary pullback to $105,650 or $104,650 is possible but would not invalidate the bullish setup.
Current price: $107,457, up 0.5% in 24 hours.

The breakout trigger remains at $108,100, which could facilitate movement towards $115,000.