This week, Bitcoin (BTC) surged to $108,182, breaching a critical resistance level and triggering bullish momentum that has investors and traders watching closely. Currently trading near $107,300, BTC has risen nearly 10% in three days, fueled by short liquidation, technical breakouts, and easing tensions in the Middle East.
Technical analysis highlights $108,251 as a vital inflection point, where a close above could spark a rapid advance toward resistance targets of $110,448 and $111,944. BTC formed a bullish three-bar pattern reminiscent of "three white soldiers," signaling strong buyer commitment, although price action faces resistance just below a long-term descending trendline. Key supports lie at $106,237, $105,081, and $103,984, suggesting possible pullbacks if the breakout fails.
On-chain data point to reduced realized profits, supporting sustained bullish pressure. Analysts like Matthew Hyland and Titan of Crypto emphasize bulls are in control, noting breakout confirmations from Ichimoku Cloud signals. However, geopolitical uncertainty remains, with focus shifting back to tensions between NATO and Russia amid easing Middle East conflict.
Meanwhile, the BTC Bull Token (BTCBULL), an altcoin linked directly to Bitcoin’s price through unique tokenomics including BTC airdrops, supply burns triggered by $50,000 BTC price increments, and a 55% annual yield, is nearing its $8.4 million presale hard cap. The token is currently priced at $0.00258, with strong interest from investors drawn to its Bitcoin-correlated value and staking features.
Overall, Bitcoin stands at a technical crossroads: sustaining above $108,251 could initiate a swift climb to $111K and beyond, while failure to break and hold this level may result in a short-term retracement to major support zones. Market observers remain vigilant as the price dynamic unfolds amidst persistent macroeconomic risks.