Bitcoin price rises to $ 105,000: analysts expect a full-scale rally

The price of bitcoin BTC $75,183.50 Mezo Wrapped BTC -0.89% Market capitalization $0.1 billion VOL. 24 hours $0.62 billion has recovered after falling below $ 102,500 and has surpassed the $ 105,000 mark. After reaching a low of around $ 100,000, buyers became active again, pushing the rate to a high of $ 106,426. Bitcoin is currently consolidating above $ 105,000 and the 100-hour simple moving average.

On the hourly chart of the BTC/USD pair, a bullish trend support level is forming at $ 105,350. This could be an important line for buyers to hold their positions. The nearest resistance for growth is at $ 106,200, and the first key resistance level is at $ 106,500.

In case of a successful breakout of $ 106,500, the price could rise to $ 107,600 and then test the $ 108,800 level. With further growth, the next important target could be the psychologically important level of $ 110,000.

If bitcoin fails to overcome $ 106,200, we should expect a new wave of decline. The nearest support is at $ 105,200 and the trend line. The main supports are located at $ 103,500 and $ 102,000, and the main defense level is $ 100,000, below which selling pressure may increase.

Currently, technical indicators support the bullish scenario: MACD is showing growth, and RSI is above 50. This indicates the potential for continued growth, although the market remains sensitive to support and resistance levels.