- Bitcoin holds a $108,400 retest zone as traders target $114K with $180K seen as a longer-term goal.
- A Golden Cross forms on the daily chart, supporting bullish continuation toward $120K and beyond.
- Market volume drops, but price stability and neutral funding rates signal cautious optimism among traders.
Bitcoin continues to trade above key support levels, showing resilience after a recent bounce from $105,000. The cryptocurrency is currently consolidating near $108,400, a critical area now considered a retest zone. As the market structure holds, traders are watching for a confirmed move toward $114,000 and beyond, with growing sentiment pointing toward $180,000 as a longer-term target.
Technical Structure Holds as Bitcoin Tests Resistance Levels
Bitcoin is trading near $108,400 after recovering from a low of $106,000 earlier in the week. The move followed a liquidity sweep below key support, which was met by strong buying interest.
According to a technical observation by Dariusz Kowalczyk, the bounce from $105K confirmed a daily breakout. He noted, “We’re now in the retest zone, eyes on $108,400. If it holds, the first target will be 114K.” On the daily chart, Bitcoin’s price remains supported by a bullish crossover.
The 100 day moving average has been above the 200 day moving average, thus creating a Golden Cross. The trend in the past corresponds with long-term upward trends. The upper resistance is at $110,500 and at $112,000, the breakout is confirmed and a possible push towards the level of $120,000 is possible.
On-Chain Activity and Market Volume Support Uptrend
According to data from CoinMarketCap, Bitcoin’s market capitalization stands at $2.15 trillion, while the daily trading volume has declined to $42.76 billion. The volume-to-market cap ratio is at 1.99%, showing reduced speculative activity.
However, the price remains stable above the $108,000 level. Futures market behavior suggests cautious optimism. Funding rates remain neutral, according to K33 Research. Despite recent rallies, this indicates that traders are not yet heavily positioned in long trades.
A breakout above $110,500 could trigger a build-up in open interest. Liquidity clusters remain above $111,000, and several traders are watching these levels for the next wave.
