Bitcoin Price Back In The Green — Momentum Builds for More Gains

Bitcoin's price has recently experienced a fresh surge, surpassing $105,500 and entering a positive trend. The cryptocurrency is currently consolidating its gains, trading above $106,000 and the 100-hourly Simple Moving Average. A bullish trend line is forming with support around $107,400, suggesting potential for further upward movement. The immediate resistance level is near $108,000, with a key resistance zone at $108,200. Successfully breaking above $108,200 could propel the price towards $110,000 and potentially $112,000. Conversely, failure to overcome the $108,500 resistance could trigger a decline. Immediate support levels are at $107,400 and $105,500, with further support at $104,000 and $103,200. Technical indicators like the MACD and RSI signal bullish momentum, with the RSI above 50. Key support levels are at $107,400 and $105,500, and key resistance levels are at $108,500 and $110,000.