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Bitcoin started the new week with a rise and directly surpassed 102,000. The daily chart broke the formation based on the recent range by creating a strong bullish candle. Despite some pressure below the key level of 100,000, it broke the lower range firmly. It is currently approaching the second resistance level around 102,700 and further breakthrough depends on around 104,000. After stabilizing above the support level of 97,227, it recovered and closed above the higher level. Today, we expect a short-term pullback from the high level. The 4-hour chart shows that Bitcoin relies on the middle band for upward movement. It gained stability near the previous high point of 100,705 yesterday and continued to rise above this level. Currently, 102,444 could become a resistance point after the second breakout. The upward momentum is somewhat limited at this level, but it has already broken the middle band and is moving towards the upper band. There is a strong market with slow volume increase after the consolidation correction.
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