Bitcoin reclaims $105,000: what are the next targets?
- Gains follow reports of US-China tariff rollback.
- Key support at $103,818 aligns with the 50-day EMA.
- MACD signals bullish momentum as consolidation continues.
Bitcoin (BTC/USD) maintained its footing above the $104,000 level on Monday, buoyed by rising investor confidence amid signs of easing trade tensions between the US and China.
The world’s most-traded cryptocurrency touched an intraday high of $105,706 before settling near $104,420.33 at the time of writing.
This move follows weeks of sideways trading, and signals a potential shift in market sentiment.
Source: CoinMarketCap
Optimism around the rollback of US tariffs on Chinese goods has revived risk appetite across global markets.
For Bitcoin, the easing geopolitical backdrop has acted as a key driver behind recent gains.
BTC jumps on macro optimism
The latest surge comes as the US has scaled back tariffs imposed on China, raising hopes that global trade flows could improve and recession risks may ease.
This broader economic tailwind has extended into the crypto market, pushing Bitcoin above the psychological $105,000 barrier during intraday trading.
The move has been supported by bullish technical indicators. The 50-day Exponential Moving Average (EMA), currently near $103,818, has provided a strong base during recent consolidation.
Bitcoin’s ability to bounce off this level has reinforced confidence among traders.
Market participants are now eyeing the next resistance levels at $106,750 and $107,300.
These price points align with previous supply zones and could determine whether Bitcoin can sustain its upward trajectory in the near term.
Support holds at $103,818
The $103,818 level has emerged as a key line of defence for bulls. It coincides with the 50-day EMA and has served as a critical floor during the recent period of range-bound movement.
If Bitcoin can continue to hold above this support, it may provide the base for a renewed push toward higher levels.
However, if downward pressure intensifies and the price falls below this threshold, the next support lies at $103,080.
A breach of this level could trigger a broader pullback and push Bitcoin back into the lower end of its former trading channel.
The Relative Strength Index (RSI) is approaching overbought territory, which suggests that a near-term correction is still possible. Traders are watching this closely, particularly as Bitcoin navigates resistance zones.
Technical signals suggest caution
While recent gains are encouraging for Bitcoin bulls, indicators suggest that caution is warranted.
The Moving Average Convergence Divergence (MACD) is trending positive, with the MACD line crossing above the signal line and the histogram expanding.
This reinforces the bullish outlook, but also suggests that some short-term consolidation may follow.
The RSI, currently nearing levels above 70, implies that the market may be entering overheated territory.
Historically, such readings have often preceded brief corrections before fresh upside attempts.
Should profit-taking emerge, support levels at $105,000 and $103,818 will be tested once again.
Traders eye $107,000 barrier
With Bitcoin currently hovering around $104,420.33, momentum remains delicate.
A confirmed breakout above $105,706 could reignite buying interest, opening the path to the next targets at $106,750 and the psychologically significant $107,000 level.
Market sentiment will likely remain tied to macroeconomic developments, particularly progress on US-China trade discussions.
Any setbacks on that front could reverse the recent gains, while continued optimism may fuel another leg higher.
For now, Bitcoin’s resilience above $104,000 marks a key technical milestone, and all eyes are on whether the world’s leading cryptocurrency can convert this into a sustained rally.
