Bitcoin (BTCUSD) recorded fresh positive gains yesterday, reaching the $108,000 level, while moving within a minor bullish channel. This strengthens the possibility of further upward momentum, with the next key target positioned at $110,000.
Given this trend, we maintain a bullish outlook for Bitcoin in the near term. However, a drop below the $104,060 support could introduce negative pressure, potentially testing the support line of the main bullish channel near $98,935 before any further attempts at rising.
Expected Trading Range for Today: $104,060 (support) – $109,000 (resistance)
Trend Outlook: Bullish
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