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Bitcoin Technical Analysis: Bulls Eye $110K After All-Time High Breakout 

Bitcoin Technical Analysis: Bulls Eye $110K After All-Time High Breakout 
The price of Bitcoin is currently hovering between $105,025 and $105,269, with a 24-hour trade volume of $82 billion and a market cap of $2.08 trillion. The recent bullish breakout has seen Bitcoin reach a record high of $106,533, with short-term support at $104,000 and resistance at this new all-time high. High trading volumes indicate strong involvement, and a dip back to $104,000-$104,500 could present a buying opportunity. The 4-hour chart reinforces the bullish trend, with support between $102,500 and $104,000 and resistance at $108,000. A consolidation at $104,000 could lead to more long trades. In the daily timeframe, Bitcoin's journey upward is predominantly bullish, with key support levels at $100,000 and $104,000. If Bitcoin closes above the $106,533 mark, it could potentially reach $110,000. Oscillators suggest a neutral and potentially overheated market, while moving averages are bullish. Bitcoin's achievement of a new all-time high and its positive outlook on multiple timeframes indicate a favorable environment for continued price appreciation, with targets of $108,000 and potentially $110,000. However, overextended conditions and neutral signals from oscillators raise the possibility of short-term profit-taking, with a breakdown below $104,000 signaling a potential reversal.

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