Bitcoin rebounds and builds a bottom, challenging the 110,000 USD mark soon.

Recently, Bitcoin (BTC) has shown resilience again, with the price breaking through the key resistance zone of $108,500 before the deadline. Although the market has not completely shaken off the pressure of a pullback, technical indicators are gradually turning bullish, which is expected to drive the price to challenge $110,000.

Trend reversal signals emerge

After a period of sideways consolidation, Bitcoin has broken through the previously dominant downward trend line in a short time. This trend line is located around $109,350. If the BTC price successfully stabilizes above it, it indicates that bullish forces have regained the upper hand.

Key price level observation

Currently, the BTC price is consolidating above $108,500. If it can break through the next short-term resistance level at $109,750, it will pave the way to challenge the significant psychological barrier of $110,000. Once the price successfully closes above $110,000, the potential targets for the next phase will fall at $112,000 or even $115,000.

Pay attention to the support area at $108,500 and $107,800

If BTC cannot break through $110,000 for a long time, the risk of a pullback increases. In the short term, attention should be paid to the following support areas:

• First support level: $108,500, which is the current consolidation area.
• Second line of defense: $108,100, the bottom line strongly defended by the bulls.
• Deep support zone: $107,800 to $106,400 range, if lost, it may trigger further risk of falling towards $105,000.

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Summary

Based on the comprehensive technical trends and market structure, BTC is at a critical decision point. If it can break through $110,000 with increased volume, it will open up space for a subsequent rise to $112,000 - $115,000; conversely, if it falls below $108,500, caution is needed for a drop to the $107,800 range. Short-term investors should focus on trading volume and trend confirmation to assess whether the breakout is sustainable.