Bitcoin Eyes $109K: Can a Break Above $106K Spark the Next Rally?
Bitcoin is currently trading between $104,810 and $104,987, with a 24-hour volume of $18.2 billion and a market cap of $2.07 trillion.
On the daily chart, Bitcoin shows signs of recovery from its previous low of $89,164, forming higher lows. But remains within a $104K–$106K range. A break above $106K could push Bitcoin toward $109K, while a drop below $102K could lead to a pullback to $98K.
Short-term charts indicate consolidation, with volume spikes hinting at potential volatility. Technical indicators suggest a bullish outlook. But weakening momentum and indecision may trigger a retracement if key support levels are breached.
Clever Robot News Desk 27th January 2025
