Bitcoin Breaks Past $106K as Bulls Eye $110K Resistance

Bitcoin (BTC) is showing renewed strength after breaking past the key $106,000 resistance level—a psychological and technical barrier that has capped upward momentum for weeks. The breakout, although still in its early phase, is building cautious optimism across the market as BTC hovers around $105,900.

A critical signal supporting this move is Bitcoin’s recent bounce off the 26-day Exponential Moving Average (EMA), a trendline that also underpinned the April rally. This dynamic support reinforces the bullish structure and opens the door for a potential surge toward $110,000, which currently marks the upper edge of a descending triangle formation. A decisive breakout above $110K could invalidate the short-term bearish trend and potentially trigger renewed interest from both institutional and retail investors.

While price action remains tight—suggesting accumulation rather than distribution—trading volume is still relatively subdued compared to past breakout phases. The key support levels to watch include the 26 EMA near $104,500 and the psychological floor at $102,000. As long as Bitcoin holds above these thresholds, the bullish outlook remains intact.

Macro conditions, including geopolitical instability and ongoing monetary policy shifts, are adding a layer of resilience to Bitcoin’s current trend. Large-scale accumulation by whales and easing fear in the market suggest that volatility could soon increase, possibly pushing BTC into a more aggressive upward trajectory.

This technical setup, combined with improving sentiment, positions Bitcoin for a potential retest of major resistance. Traders will be closely watching the $110,000 level, which could determine whether this move evolves into a sustained breakout or faces rejection.