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NewsBTC 2025-05-26 01:09:11

Bitcoin Price Aims Higher: Is the Rally Just Getting Started?

Bitcoin price started a fresh increase and traded to a new all-time high above the $111,600 zone. BTC is now consolidating and might start another increase above $111,000 Bitcoin started a fresh upward move from the $106,800 zone. The price is trading above $108,500 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $107,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $110,000 resistance. Bitcoin Price Eyes Fresh Increase Bitcoin price traded to a new all-time above $110,000 and recently started a downside correction. BTC tested the $106,700 zone and recently started a fresh increase. There was a move above the $107,000 and $108,000 resistance levels. The bulls pushed the price above the 23.6% Fib retracement level of the recent decline from the $111,983 swing high to the $106,672 low. Besides, there was a break above a key bearish trend line with resistance at $107,800 on the hourly chart of the BTC/USD pair. Bitcoin is now trading above $109,000 and the 100 hourly Simple moving average . On the upside, immediate resistance is near the $110,000 level. It is close to the 61.8% Fib retracement level of the recent decline from the $111,983 swing high to the $106,672 low. The first key resistance is near the $110,750 level. The next key resistance could be $111,800. A close above the $111,800 resistance might send the price further higher. In the stated case, the price could rise and test the $113,000 resistance level. Any more gains might send the price toward the $115,000 level. Another Decline In BTC? If Bitcoin fails to rise above the $111,000 resistance zone, it could start another correction. Immediate support on the downside is near the $108,000 level. The first major support is near the $107,500 level. The next support is now near the $106,500 zone. Any more losses might send the price toward the $105,000 support in the near term. The main support sits at $103,200, below which BTC might gain bearish momentum. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $107,500, followed by $106,500. Major Resistance Levels – $111,000 and $113,000.

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