Bitcoin’s Next Move: Can BTC Break $104,970 to Target $110K?

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Bitcoin (BTC/USD) is showing signs of strength as it continues to trade above key technical levels.

BTC Chart (Source Coingecko)
 
At the time of writing, BTC is priced at $104,509, maintaining its position above the 50- Exponential Moving Average (EMA50) — a crucial indicator that supports the current bullish momentum.

Technical Analysis Overview

  • Price: $104,509

  • Trend Indicator: Trading above EMA50

  • RSI: Neutral (Suggests potential for more upside)

  • Key Resistance: $104,970

  • Next Target: $110,000 (if resistance breaks with strong volume)

The Relative Strength Index (RSI) remains in the neutral zone, indicating that Bitcoin is neither overbought nor oversold.
This gives room for the bulls to push higher, provided there is sufficient trading volume to support the move.

Currently, BTC is facing a strong resistance at $104,970.
This level has proven to be a tough barrier, capping price growth in recent sessions.
A decisive break above this resistance, backed by high volume, could open the doors for a potential rally toward the $110,000 psychological level.

Conclusion

Bitcoin’s bullish structure remains intact above the EMA50, but the market now waits for confirmation. If BTC manages to break the $104,970 resistance with strong volume, we could see a swift move toward $110K.
However, failure to do so might result in some sideways movement or minor corrections in the short term.

Stay tuned and keep a close eye on the volume and price action near resistance. A breakout could signal Bitcoin’s next big leg up.

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