Bitcoin Price Bounces Past 105K: Is a Full-Blown Rally Back on the Cards? 🚀
Bitcoin has initiated a recovery above the $105,000 mark, demonstrating potential for a rally. The cryptocurrency is trading above the 100 hourly Simple moving average and is supported by a bullish trend line at $105,350.
If Bitcoin breaches $106,500 resistance, it could target $107,600 and even $110,000. Failure to clear $106,200 might lead to a decline towards supports at $105,200, $103,500, and possibly $100,000.
Technical indicators suggest a bullish momentum with MACD gaining pace and RSI positioned above 50. The key to continued gains lies in overcoming the immediate resistances.
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