Bitcoin price has initiated a fresh upward trajectory, climbing above the $103,200 mark. Currently, BTC is correcting its gains and may revisit the $102,000 support zone. A bullish trend line offers support at $103,500 on the hourly BTC/USD chart.
The cryptocurrency's recent surge has seen it clearing resistance levels at $102,200, $103,200, and even $104,500, positioning it within a positive zone. However, hurdles remain near $106,500. A recent high was noted at $106,414, with the price now in a corrective phase.
Despite this, Bitcoin is maintaining its position above $103,000 and its 100-hourly simple moving average. On the ascent, the immediate resistances stand at $105,500 and $106,500. Breaching the latter might propel the price higher to test $108,800 or potentially $110,000.
If the price fails to rise above $105,000, a fresh decline could ensue, with immediate downside support at $103,500. Significant support levels lie at $102,500 and $102,000, while further losses could see the price dip to $100,500.
Fuente: www.newsbtc.com ↗