Bitcoin has surpassed the $108,000 mark but dropped below $107,000 shortly after. It is currently trading at around $106,884.43 with a small decrease of 0.4% in one hour. Analysts believe that Bitcoin may reach the $110,000 threshold as it has been consistently forming higher highs and higher lows. Initially, $100,000 was a strong resistance but has now become a support zone. Bitcoin is expected to target the $110,000 and $120,000 levels. However, there is a potential bearish reversal if the price breaches the ascending channel's lower boundary. Investors have been actively accumulating Bitcoin, and the exchange reserve metric shows a decline in Bitcoin held in exchange wallets.



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