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07/06 12:05

Bitcoin Technical Outlook: $107.8K Support on Watc

Bitcoin Technical Outlook: $107.8K Support on Watch

The Bitcoin price prediction is neutral, as BTC is currently consolidating just above the 50% Fibonacci retracement level ($107,840) from its recent swing move.

The 2-hour chart shows a low-volatility “fib squeeze,” trapped between the 50% and 61.8% levels. Price sits between key moving averages: the 50-SMA at $108,624 and the 100-SMA at $107,944.image-39-768x400.png

Momentum indicators suggest indecision. A breakout or breakdown looks imminent.

Trade Setup – Fib Squeeze Strategy:

  • Long Entry: Above $108,480 on volume
    • Targets: $109,264 to $110,555
  • Short Entry: Below $107,800
    • Targets: $107,208 to $106,275
  • Stop-Loss: Just beyond breakout candle

Bitcoin’s power base is shifting, and so is its character. Traders should watch the charts, but also the wallets.

#Join HTX On A Fitness Journey To Mars#Check In to Win a 20g Gold Bar#BTC price hits a new high of $120,000!
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