Overview
- After repeated defenses of the $100,000 floor last week, Bitcoin rebounded, reclaimed the $104,000 area, and briefly tagged $107,400 before consolidating.
- Traders highlight a tight resistance band at $107,000–$110,000, with $109,400 as a key Fibonacci level and $111,000 cited as the next significant barrier.
- Bloomberg’s Mike McGlone frames $110,000, roughly the 200-day moving average, as the line that must be regained to confirm a sustained recovery.
- Short‑term indicators point to fragile momentum, with the hourly MACD losing pace as the RSI holds above 50.
- If rejection persists, analysts flag supports near $104,800, $104,000, $103,300, and $102,350, while institutional demand continues with Michael Saylor’s Strategy buying 487 BTC for $49.9 million to reach 641,692 BTC.