Bitcoin has kicked off a fresh price rally, surging past $111,600 to reach a new all-time high. After a brief pullback to $106,700, BTC has reclaimed key moving averages and trendlines. At CryptaBlocks, we dissect the technical setup to determine whether this Bitcoin price rally is just getting started.

Fresh Increase & Trendline Break

• Uptrend Reignited: BTC bounced from $106,800 and surged above $108,000.
• Trendline Breakout: A bearish trendline at $107,800 was decisively broken on the hourly chart, confirming renewed bullish momentum.
• Moving Average Support: Price is solidly above the 100-hour SMA, reinforcing upward bias.

Critical Resistance Levels

• Immediate Hurdle – $110,000: Situated near the 61.8% Fibonacci retracement of the recent decline, this level must be cleared to sustain the rally

• Next Targets:
  • $110,750: The first key resistance zone.
  • $111,800: Break and close above here could pave the way to $113,000 and ultimately $115,000.

Potential Pullback Zones

• Short-Term Support:
  • $108,000 – immediate support aligned with the 23.6% Fib retracement.
  • $107,500 and $106,500 – deeper correction levels to watch.

• Bearish Threshold – $103,200: A decisive break below this main support could signal a larger correction.

Technical Indicators

• MACD (1H): Gaining bullish momentum above the zero line.
• RSI (1H): Holding above 50, confirming buying strength.

Conclusion

The current Bitcoin price rally exhibits strong technical signals, with key resistance levels in sight. Clearing $111,800 could launch BTC toward $115,000. However, traders should monitor support at $108,000–$107,500 to manage risk. At CryptaBlocks, we provide real-time insights to help you navigate these pivotal moments and optimize your ROI.