Bitcoin Tests $108,000 Resistance Amid Bullish Trend

Bitcoin is currently experiencing a period of cautious optimism as it tests significant resistance levels. The cryptocurrency's price is at $107,539, showing a resilient uptrend with a higher low pattern above $106,000. This pattern suggests strong demand and a notable comeback from sub-$100,000 levels. However, the Relative Strength Index (RSI) indicates a bearish divergence, with prices making lower lows as they increase. This divergence often signals a possible slowdown or temporary correction.

According to Bitcoin Hyper, a market analyst, the $108,979.3 liquidity zone is a key resistance level. This area has consistently acted as a barrier, influencing price momentum and trader sentiment. Breaking above this point could open the path to the $110,000 psychological mark. However, failure to do so could trigger a retest of support levels.

The RSI's decline from peaks above 70 to the current level at 60 is another indication of slowing momentum. While the overall structure remains bullish, this dip suggests that buyer enthusiasm may be waning. Traders are closely monitoring how the price interacts with the $108,000 resistance, which has so far prevented a greater upward push.

Bitcoin's past performance near liquidity levels provides context for its current position. Consolidation periods have frequently followed previous strong rises, preparing the market for either a breakout or a regression. The cryptocurrency's rising trend indicates potential, but the RSI's bearish divergence serves as a cautionary signal. The way Bitcoin behaves in the $108,000 barrier zone will significantly determine its future trajectory.