💸 Bitcoin Bulls Take Charge: Price Surges Above $110,000! 📈

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Ah, the sweet scent of cryptocurrency success! Our beloved Bitcoin has once again proven its unpredictable nature, as it surges above the $108,500 zone. The price is now up over 3%, and the bulls are dancing in delight above the $110,000 level.

  • Bitcoin has started a fresh increase above the $108,500 zone, much to the delight of its admirers.
  • The price is currently trading above $110,500 and the 100 hourly Simple moving average, a sight for sore eyes.
  • There was a break above a bearish trend line with resistance at $108,800 on the hourly chart of the BTC/USD pair (data feed from Kraken), a testament to the resilience of this digital darling.
  • The pair could continue to rise if it clears the $112,000 resistance zone, a feat that would surely send shockwaves through the financial world.

🌟 Bitcoin Price: The Sky’s the Limit? 🚀

Bitcoin has started a fresh increase after it cleared the $108,500 resistance zone, a move that has left many investors breathless with anticipation. BTC gained pace for a move above the $108,800 and $109,500 resistance levels.

In addition, there was a break above a bearish trend line with resistance at $108,800 on the hourly chart of the BTC/USD pair. The bulls even pumped the pair above the $110,000 resistance zone, a feat that would make even the most seasoned investor blush.

This opened the doors for a move toward the $112,000 level, a target that seemed unattainable just a few short days ago.

A high was formed at $112,000, and the price is now consolidating gains. It tested the 23.6% Fib retracement level of the upward move from the $107,500 swing low to the $112,000 high, a technical analysis that would make even the most stoic investor giddy with excitement.

Bitcoin is now trading above $109,500 and the 100 hourly Simple moving average, a sight for sore eyes. Immediate resistance on the upside is near the $111,600 level, a hurdle that the bulls must overcome if they wish to continue their upward trajectory.

A close above the $112,500 resistance might send the price further higher. In the stated case, the price could rise and test the $115,000 resistance level, a target that would surely send the financial world into a frenzy.

📉 Bitcoin: A Downward Spiral? 😱

If Bitcoin fails to rise above the $112,000 resistance zone, it could start a downside correction. Immediate support is near the $110,800 level, a line in the sand that the bears must defend if they wish to regain control.

The first major support is near the $109,750 level or the 50% Fib retracement level of the upward move from the $107,500 swing low to the $112,000 high, a technical analysis that would make even the most seasoned investor hold their breath.

The next support is now near the $109,200 zone, a line in the sand that the bulls must defend if they wish to continue their upward trajectory.

Any more losses might send the price toward the $108,500 support in the near term, a target that would surely send the financial world into a tailspin.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone, a sight for sore eyes.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level, a technical analysis that would make even the most stoic investor giddy with excitement.

Major Support Levels – $110,800, followed by $109,750.

Major Resistance Levels – $112,000 and $115,000.

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2025-07-10 05:31