I mean, you know Bitcoin‘s recent shenanigans – where it tried to play footsie with the $107,500 and $108,000 mark. Look, BTC could-hang on, might just-start sauntering its way back up if it waves goodbye to that $109,500 hurdle. Oh, it started sneaking above $105,000 like it has somewhere better to be.
- Bitcoin, ever the show-off, began prancing above the $105,000 level. Cue the comeback, much?
- Now trading above $108,000 and cozying up with that 100-hour Simple moving average – who knew it liked company?
- Oh, and let’s not forget that dramatic break away from the pessimistic trend line marked by $107,500, all thanks to the hourly chart of the BTC/USD pair (courtesy of Kraken). Cue drama music!
- So, if it decides to break away from the $109,500 zone, we might just witness an actual party.
Once upon a not-so-glamorous time, Bitcoin fumbled its attempt to get past $110,000 and took a nosedive back under to $108,000 and $106,500. It even had a little ‘bad moment’ dipping below $105,000. Low of $103,583, if you must know. However, it got a grip, fixed its hair, and bounced right back above the 23.6% Fib of its recent bad mood swing from $115,975 to $103,583.
Then came a heroic leap over that ever-so-awkward bearish trend line with its poor $107,500 resistance level. Sold! Now comfortably above $108,000 and the Simple moving average. Up next: shedding the $109,500 layers, followed by a conquer-the-world challenge past $110,000.
Oh, and if it passes that $111,250 mark, well, let’s hear it for the forward march! It might saunter its way toward $112,500, then possibly waltz even further to $113,200 and dreamily sweep up into $115,000 territory.
Oh no, the horror! If it fails to climb that $110,000 wall, the nosedive alarm might sound, right back to $108,000, then maybe even to $107,500. And if it keeps playing hot potato with the trend, it might just roll down to $106,200. Oh no, not $105,500, and, let’s avoid touching that scary $103,500 at all costs.
Technical indicators (because we care):
- Hourly MACD: Racing off like it knows it’s fast.
- Hourly RSI: Hovering above 50 – feeling a little chuffed, show-off.
- Major Support Levels: The triathlon starts at $108,000, with checkpoint $106,500.
- Major Resistance Levels: The bouldering wall is at $109,500 and $111,250.
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2025-10-20 06:24