Technical analysis

A weekend rally lifted Bitcoin to $104,700, reclaiming the $104,000 support zone while the 0.382 Fibonacci retracement at $109,400 cap near-term upside.

The $106,900 Fibonacci support level provided a bounce last week, but repeated tests raise risks of a drop to $100,000 and long-term support at $96,000.

Overhead resistance clusters at $112,200, $115,500, and $117,600 challenge BTC's bounce, while $102K-$105K support weakens.

Bitcoin’s bearish weekly chart faces pressure as investors await FOMC rate cut signals, with $109,500 support critical for bulls to defend.

Bitcoin supply-side dynamics and on-chain indicators look to be as strong as ever, but macroeconomic headwinds remain for legacy and risk assets.

Bulls take charge with massive upward momentum. Key price levels to watch to determine whether this is another bear market rally or a move with lasting power.

Bitcoin trading above the 50-day simple moving average is a bullish indicator for the bitcoin price and many long-term holders are taking note.

Holders who have accumulated bitcoin over the past six months aren’t liquidating their positions despite unrealized losses, suggesting conviction in the asset.

We have yet to see deeper levels of negative funding over sustained periods of time, so this may tell us the worst of the bear market is yet to come.

With indications of inflation appearing on the horizon, how can bitcoin serve as a safeguard against the impact?