According to Kraken's latest data, BTC has successfully restarted the upward trend and strongly broke through the key resistance level of $105,500. Currently, the price is firmly above this level and the 100-hour simple moving average, indicating strong bullish momentum. Technical analysis suggests that the trend line support at $107,400 further strengthens the possibility of continued appreciation.
Bitcoin Price Returns to Upward Trajectory — Momentum Accumulation Suggests More Gains
Bitcoin has restarted its upward trend, strongly breaking through the $105,500 resistance level. The cryptocurrency is now firmly above this threshold and the 100-hour simple moving average, showing strong bullish momentum. According to the BTC/USD hourly chart from Kraken, the trend line support at $107,400 further strengthens the possibility of continued appreciation.
After breaking through $103,500, the upward momentum accelerated, breaking through $104,200 and $105,500, and testing the $108,200 area. The current price is consolidating above the 23.6% Fibonacci retracement level from $98,272 to $108,165, indicating that investors are accumulating rather than taking profits. The $108,200 level is the next key resistance — if broken, it could open up more upside potential, especially since it coincides with the 1.236 Fibonacci extension of the previous correction.
