The price of Bitcoin (BTCUSD) rose high in its recent intraday trading, supported by its stability above EMA50, indicating the continuation of the positive momentum on the short-term basis, and eases the way for a new attempt to test the critical resistance level at $108,000.

This rise comes amid the dominance of bullish correctional wave, after the price success to exit a bearish correctional channel that limited its move, reinforcing the chances for the continuation of the recover, besides forming a positive divergence on the (RSI), after reaching oversold levels, which supports the current bullish overview, conditioned by a confirmed breach above the mentioned resistance.