Bitcoin (BTC/USD) is trading around $107,400 after consolidating between $104,200 and $109,800 over the past two weeks. Price action has formed a symmetrical triangle on the daily chart, suggesting a breakout resolution is imminent. Immediate support sits at $104,800 (50-day EMA confluence with prior swing low), with stronger structural support at $98,500–$99,200 (demand zone from the late April accumulation phase). On the upside, resistance is clustered at $109,800 (recent range high) and the psychological $115,000 level, which aligns with a measured move target from the multi-month base breakout. RSI on the daily chart reads 58.4, showing bullish momentum without being overbought — healthy room to the upside. The weekly RSI is at 63.1, maintaining a bullish structure above the midline. MACD on the 4H chart shows a fresh bullish crossover with histogram bars expanding to the positive side, signaling short-term momentum is shifting upward after a brief pullback. The 200-day MA sits at $91,600, well below current price, confirming the macro uptrend remains intact. On-chain metrics are supportive: exchange outflows have been elevated for the third consecutive week, suggesting accumulation behavior. Spot ETF net inflows returned to positive territory this week after a brief pause. The funding rate across perpetual futures sits at a modest +0.01%, indicating the rally is not over-leveraged. A daily close above $109,800 would confirm the triangle breakout and likely accelerate momentum toward the $115,000–$118,500 range. A breakdown below $104,200 would invalidate the bullish setup and open a retest of the $98,500 support zone.

This is not financial advice. Content is AI-generated.