Bitcoin Holds Steady After Recent Push Higher

Bitcoin’s price has been inching up over the past day or so, managing to climb past the $107,500 mark with relative ease. At the moment, it’s hovering just above $108,000, but there’s a sense that pushing beyond $110,000 might not be so straightforward.

The move upward came after BTC found some stability above $105,500—a level that had been giving it trouble before. Once it cleared that, along with a few other minor hurdles around $107,000, things started looking up. The price even briefly touched $110,578 before pulling back slightly. Right now, it’s sitting near the 23.6% retracement level of the recent climb from $105,116 to that high.

What’s interesting is that Bitcoin is still comfortably above the 100-hour simple moving average, which usually signals at least some short-term strength. There’s also a rising channel forming on the hourly chart, with support around $109,500. That could mean the bulls aren’t quite done yet.

Where Does Bitcoin Go From Here?

If BTC can hold above $107,850, there’s a chance it might make another run at $110,000. Breaking past that could open the door to $110,500, and maybe even $112,000 if momentum keeps building. Beyond that, $113,200 isn’t out of the question—though that feels like a stretch right now.

But—and this is a big but—if it can’t crack $110,000 again, we might see another dip. The first real test would be around $109,500, right at that channel support. If that doesn’t hold, $108,800 is the next stop, followed by $107,850. That last one’s important because it lines up with the 50% retracement of the recent upward swing. A drop below that could send Bitcoin tumbling toward $106,400, or worse, $105,000.

What the Indicators Are Saying

The MACD, which had been looking strong, is starting to lose a bit of steam—still in bullish territory, but not as convincing as before. The RSI, though, is holding above 50, which suggests there’s still some buying interest.

For now, the key levels to watch are pretty clear. On the upside, $110,000 and $110,500 are the big hurdles. On the downside, $108,800 and $107,850 are the main supports. If either side breaks decisively, we’ll know which way the wind’s blowing.

It’s one of those moments where Bitcoin could go either way. Not exactly groundbreaking analysis, I know, but sometimes that’s just how it is.