Bitcoin surges 2.15% to $107,794 as bullish momentum continues

Bitcoin (BTC) has shown significant gains today, rising by 2.15% according to CoinStats. This upward trend is part of a broader bullish momentum that has been observed in the cryptocurrency market. On the hourly chart, the price of BTC has reached a local resistance level of $108,182. Traders are closely monitoring the daily bar's closure in relation to this mark. If the closure occurs around or above this level, it could signal a breakout, potentially leading to a test of the $109,000 zone.

On a larger time frame, the bullish trend continues. The price of the main cryptocurrency is moving towards a resistance level of $108,833. If buyers can maintain their momentum, the accumulated energy could be sufficient for a breakout, followed by a further upward move to the $110,000 range. From a mid-term perspective, the rate is on an upward trajectory after bouncing off the support level of $100,426. If the weekly candle closes above the previous bar high, there is a high probability of witnessing a test of the $112,000 resistance shortly.

At the time of reporting, Bitcoin is trading at $107,794. The overall sentiment remains bullish, with traders optimistic about the potential for further gains. The current price levels and resistance points suggest that Bitcoin could continue its upward trend, provided that buyers maintain their initiative and the market conditions remain favorable.