Bitcoin (BTC/USD) is flashing bullish signals again, surging +1.48% today to trade near $107,700, after touching a high of $108,182. With increasing buying volume and momentum indicators turning favorable, BTC is now approaching a critical resistance zone that could determine its short-term direction.
Let’s break down the short-term and daily chart technicals to understand what’s fueling this move and where Bitcoin could be headed next.
📉 15-Minute Chart Overview – Bitcoin (BTC/USD)
- Price Action: Bitcoin recently made a strong upward move, breaching the $107,200 level and testing the upper Bollinger Band near $108,135 before pulling back slightly.
- Support & Resistance:
- Immediate Resistance: $108,135 (upper BB line)
- Support: $107,383 (20-SMA midline), followed by $106,630 (lower BB)
- RSI (14): Currently at 61.63, cooling off from the overbought zone (70+), but still in bullish territory.
- Volume Spike: Noticeable increase in volume indicates short-term trader interest; however, some profit booking is underway post-surge.
🔎 Short-Term Bias: Bullish with caution — potential for minor consolidation before fresh breakout attempts above $108,200.
📅 Daily Chart Analysis – Bitcoin (BTC/USD)
- Current Price: $107,697
- Daily Change: +$1,566 (+1.48%)
- Bollinger Bands:
- Price is approaching upper BB resistance at $110,252
- Mid-band support stands at $105,740
- Lower BB support at $101,228
- RSI (14): Climbing at 57.01, signaling renewed bullish momentum, comfortably above the neutral 50-level.
📊 Trend Notes:
- The downtrend reversal is becoming clearer as BTC continues forming higher lows after bottoming near $101K.
- A clean breakout above the $110K psychological level could spark renewed institutional and retail interest.
- Volume patterns show accumulation — a bullish sign as prices climb with increasing trader participation.
📈 Key Technical Levels to Watch
| Level Type | Price Zone (USD) |
|---|---|
| 🔼 Major Resistance | $108,200 – $110,250 |
| ✅ Immediate Support | $105,740 |
| 🔽 Strong Support | $101,200 |
| 🚨 RSI Threshold | Watch for RSI > 70 = Overbought |
🧠 Summary & Outlook
Bitcoin’s price action suggests the bulls are back in control, but the zone between $108K and $110K will be critical. A decisive breakout above this could open doors for a move toward $115K+, while rejection might lead to a retest of the $105K–$106K levels.
With the Relative Strength Index (RSI) rising and volume expanding, the momentum is clearly bullish, but traders should watch for overbought conditions and sudden volatility near resistance.
📌 Quick Takeaways
- ✅ Bullish reversal forming on daily charts
- 🔼 Resistance zone: $108,200–$110,250
- ⚠️ RSI near overbought on short-term chart
- 📊 Watch for consolidation before breakout
🔗 Related Resources
⚠️ Standard Disclaimer
This article is intended for educational purposes only and does not constitute investment advice. Please consult a financial advisor before investing in cryptocurrencies.
