The (Bitcoin) rose in its last intraday trading, supported by the stability of the key support at $106,550, accompanied by testing a main bullish trend line on the short-term basis, which provided positive momentum that assisted it to rebound higher, this comes with the beginning of forming a positive divergence on the (RST) after reaching sharp oversold levels, reinforcing the chances for continuing the bullish track on the near-term basis.

The price might face some obstacles in its way for full recovery, due to the continuation of the negative pressure that comes from its stability below its EMA50.

Therefore, our expectations suggest the upside movements in (Bitcoin) prices in the upcoming intraday trading, conditioned by the stability of the support at $106,550, to target the key resistance at $110,000, and there are chances to breach it.

The expected trading range is between $105,000 support and $110,000 resistance.

Today's forecast: Bullish

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