Follow Bitcoin Price: Can $BTC Break the 110,000 USD Barrier?

Bitcoin is trading at $108,220 today, with a market capitalization of $2.15 trillion and a 24-hour trading volume of $10.41 billion. Throughout the day, this cryptocurrency has moved within a daily price range from $107,138 to $108,320, indicating a narrow but significant zone of consolidation in the broader bullish context. On the daily chart, the price action of Bitcoin shows a strong V reversal after the correction from the recent high of 110,789 dollars down to a low of 98,240 dollars. The recovery is marked by increasing volume and smaller green candles, indicating a slowdown in momentum but still positive. The price is currently consolidating just below the $108,000 mark. A confirmed breakout above the resistance level of $110,000 with high volume could signal the continuation of the long-term bullish trend. The key support zones remain at $103,000 and $98,000, where previous buying activity has concentrated.

In the medium-term view, the BTC/USD 4-hour chart illustrates the formation of a bullish flag, highlighted by the gradual increase. The breakout candle near the $108.358 level accompanied by a notable spike in volume indicates that buyers are becoming more confident. If the price successfully tests the zone between $107,000 and $107,500, it could provide a lower-risk entry for bullish positions. Conversely, a sustained move below $106,800 would invalidate this short-term structure and require a reassessment of the directional trend.

On the 1-hour chart, bitcoin shows short-term momentum through a narrow consolidation followed by strong bullish moves. Confirmed volume in recent green candles validates the bullish breakout from what appears to be an accumulation zone. Traders looking to capitalize on this setup may consider entries when the price retraces to the range of $107,700 to $108,000. Protective stop points below $107,200 are prudent, especially if accompanied by an increase in selling volume.

The oscillation indicators provide a largely neutral trend with a subtle bullish trend. The Relative Strength Index (RSI) is at 59, indicating no overbought or oversold conditions. The Commodity Channel Index and Stochastic (CCI) are also at neutral levels, while momentum (10) and the Moving Average Convergence Divergence (MACD) are in the buying zone—indicating a bullish trend is emerging. The Average Directional Index (ADX) at 14 reflects a weak trend strength but does not conflict with bullish signals from other momentum indicators. All major moving averages (MA) indicate a strong bullish correlation. The exponential moving averages (EMA) and simple moving averages (SMA) across all critical stages—from 10 days to 200 days—are all below the current price, each line providing a buy signal. The 10-day EMA is at $106,462 and the 10-day SMA is at $105,524, indicating immediate short-term support, while longer-term averages such as the 200-day EMA at $94,475 and the SMA at $96,224 confirm the current bullish trend being well-supported. These technical layers establish a solid foundation for the potential continuation of the increase, depending on the volume and confirmation of the breakout. Bull's opinion With the alignment of all major moving averages in the buy zone, along with bullish signals from momentum (10) and the moving average convergence divergence (MACD), the technical structure on the 1-hour, 4-hour, and daily charts supports a continued bullish trend. A breakout above $110,000 with large volume could confirm bullish dominance and pave the way to new highs. Bear's opinion Despite the bullish signals, oscillators like the (Relative Strength Index) and Stochastic remain neutral, while the (Average Directional Index) indicates weak trend strength. A drop below $106,800 on the 4-hour chart or $107,200 on the 1-hour chart—especially with increased volume—would invalidate the current setup and could trigger a short-term bearish reversal.