cryptoworld

07/16 10:08

Bitcoin Price Break Above $107,000 Triggers

Bitcoin Price Break Above $107,000 Triggers Bullishness, These Factors Will Drive A Faster Rise

After days of testing a resistance zone at $106,000, Bitcoin has finally broken above the $107,000 mark to confirm a strong bullish momentum that has been building since early June. The breakout, which has seen Bitcoin reclaim $110,000 briefly in the past 24 hours, follows several failed attempts to close above this pivotal level.  Technical analysis of the Bitcoin price indicates that the breakout above $107,000 has given bulls back control. Particularly, technical analysis from crypto analyst Michaël van de Poppe suggests that Bitcoin’s price will accelerate for the rest of the week.  $106,500 Confirms Strength, Analyst Eye Accelerated Move Over the past few days, Bitcoin’s price structure has been forming a rounded base with higher lows, gradually coiling under a support turned resistance.

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