In the current price range, Bitcoin has formed a typical ascending channel. From a technical perspective, support is established around $101,700, while $108,400 serves as a key resistance level. The observed higher lows indicate that bullish momentum in the market is strengthening, and a breakout above $108,400 could trigger a more significant rally.

Moving Averages (MA):

The crossover of short-term (such as 20-day MA) and long-term (such as 50-day MA) moving averages also provides important market signals. When the short-term MA breaks above the long-term MA, it is typically seen as a buy signal, indicating that the bullish market is strengthening. Current technical indicators show that the short-term MA has crossed above the long-term MA, suggesting potential upward momentum.

Relative Strength Index (RSI):

The RSI is an important indicator for measuring market overbought or oversold conditions. The current RSI level for Bitcoin is between 60 and 70; although it is close to the overbought region, it has not yet reached the overheating alert line of above 70, indicating that there is still room for further price increases. Investors should closely monitor this indicator to assess changes in market sentiment.