Bitcoin Price Watch: Can Bitcoin Smash Through the $110K Barrier?

Key Points

1. Bitcoin's price action shows a V-reversal after a correction, with current consolidation below $108,000 and potential for a breakout above $110,000.

2. Key support zones are identified at $103,000 and $98,000, which are critical for maintaining the uptrend.

3. Technical indicators like RSI (59), MACD, and moving averages (10-day to 200-day) suggest a bullish bias, though trend strength is currently weak.

4. A breakout above $110,000 with high volume could confirm continued bullish momentum, while a drop below $106,800 may invalidate the short-term bullish outlook.

5. The 4-hour chart shows a bullish flag formation, with potential lower-risk entry points around $107,000-$107,500 if support holds.