Bitcoin Price Watch: Mixed Oscillators, Strong MAs Create Tense Trading Setup

Key Points

1. Bitcoin is trading at $107,693 with a market cap of $2.14 trillion and a 24-hour trading volume of $18.15 billion.

2. The price rebounded from the $98,000 range, forming a bullish engulfing candlestick pattern, suggesting potential bottoming behavior.

3. Key resistance is at $108,800; a break above this level with volume could target $110,000, while a drop below $107,000 may signal bearish pressure.

4. Moving averages (10-period to 200-period) indicate bullish sentiment, but oscillators like RSI (56), stochastic (90), and CCI (94) show neutral signals.

5. A decline below $107,000 could lead to a retest of support zones at $105,000 or $102,000–$100,000.