Bitcoin Surges 10% in Three Days, Breaks $108K Resistance

Bitcoin (BTC/USD) has recently surged to $108,182, briefly surpassing a key resistance level that could potentially trigger a new wave of bullish momentum. Currently, BTC is trading around $107,300, marking a nearly 10% increase in just three days. This rally has been driven by a combination of short liquidation, technical breakouts, and easing geopolitical tensions in the Middle East.

Traders had widely anticipated the move past $108K, as this level represented a significant liquidity zone. The breach of this level forced aggressive short positions to unwind, effectively clearing the path for a potential breakout toward higher resistance levels. Data from CoinGlass confirms that this rally absorbed much of the high-leverage short interest built around recent price consolidation.

Popular analysts, such as Matthew Hyland, describe the current environment as “bulls in control,” while others, like the Titan of Crypto, highlight a recent breakout above the Ichimoku Cloud, signaling further upside potential. Technical models now indicate $110,448 and $111,944 as potential upside targets, provided BTC can maintain its traction above $108,251.

From a charting perspective, the Bitcoin price prediction appears bullish after BTC recently formed a three-bar bullish pattern, similar to a modified “three white soldiers” setup, indicating strong buyer commitment. However, price action is stalling just below a long-standing descending trendline, suggesting that $108,251 remains a critical inflection point.

Support levels are identified at $106,237 (Fib 0.236), $105,081 (50-EMA), and $103,984 (Fib 0.5). Resistance targets are set at $110,448 and $111,944. The MACD status is bullish with a crossover, but histogram momentum is flattening. A candlestick signal of a spinning top forming under the trendline indicates potential hesitation.

If BTC closes above $108,251 with high volume, we could see a quick move to $111K. If not, we could see a short-term pullback to $105,000-$103,900. Middle East tensions have eased, but geopolitical risk remains. Market sentiment has shifted back to Eastern Europe as tensions between NATO and Russia escalate. According to QCP Capital, the risk premium on global assets is evolving from a short-term hedge to a long-term assumption.

The S&P 500 and Nasdaq experienced a slight bounce, a temporary calm, but macroeconomic uncertainty remains a headwind. For BTC, any increase in global volatility, especially from traditional markets, could bring in safe-haven flows into crypto assets. However, BTC’s structure remains bullish. With on-chain data indicating lower realized profits and technical indicators suggesting a continuation, the path to new all-time highs remains open if $108,000 holds.

BTC is at a crossroads. A close above $108,251 could signal a quick move to $111K and beyond. If not, we could see a pullback to key support zones. Traders are watching – this level will define the next move.