Crypto’s Wild Ride 🎢

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It’s a mighty peculiar thing, this Bitcoin business. One day it’s down, the next it’s up, like a seesaw on a playground of speculation. But amidst all the hubbub, one thing’s for certain: the $107,500 zone is holding strong, like a trusty ol’ friend who’s got your back.

  • Bitcoin’s on the mend, crawling its way back up above the $108,000 mark like a determined little ant.
  • The price is trading above $108,500, and the 100 hourly Simple moving average is looking like a promising sign, like a green light on a dusty old highway.
  • But don’t get too comfortable, partner, ’cause there’s a bearish trend line forming, like a dark cloud on the horizon, with resistance at $109,050.
  • If Bitcoin can just stay above that $107,500 zone, it might just start a fresh increase, like a wildflower blooming in the desert.

Now, Bitcoin’s had its fair share of ups and downs, like a rollercoaster ride at the county fair. It took a tumble after failing to reach the $110,000 mark, but the bulls came a-runnin’ to save the day.

A low of $107,650 was formed, but then the price started to recover, like a cowboy getting back on his horse after a nasty spill. It climbed above the 50% Fib retracement level, and now it’s trading above $108,500, with the 100 hourly Simple moving average looking like a steady hand.

The first key resistance is near the $109,050 level, and that bearish trend line is looking like a formidable foe. But if Bitcoin can just close above the $109,200 resistance, it might send the price soaring, like a bird taking flight. The next stop could be $110,000, and if it keeps on truckin’, it might just reach the $112,000 level, or even the lofty heights of $115,000.

But, as we all know, the crypto market’s a mighty unpredictable beast. If Bitcoin fails to rise above that $109,200 resistance zone, it could start another decline, like a tumbleweed blowing away in the wind. Immediate support is near the $108,400 level, and the first major support is near the $108,200 level.

The next support is now near the $107,500 zone, and if it falls below that, it might send the price tumbling down to the $105,500 support, or even the $103,500 level. And if that happens, well, it’s anyone’s guess what might happen next.

Technical indicators are looking like this:

Hourly MACD – The MACD is gaining pace in the bullish zone, like a runaway train.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level, like a reassuring smile.

Major Support Levels – $108,500, followed by $107,500, like two old friends waiting in the wings.

Major Resistance Levels – $109,200 and $110,000, like two towering mountains waiting to be climbed.

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2025-07-09 05:30