{"id":76944,"date":"2025-06-29T13:00:37","date_gmt":"2025-06-29T13:00:37","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=76944"},"modified":"2025-06-29T13:00:37","modified_gmt":"2025-06-29T13:00:37","slug":"bitcoin-consolidating-below-108000-but-eyes-115000-target","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=76944","title":{"rendered":"Bitcoin Consolidating Below $108,000 But Eyes $115,000 Target"},"content":{"rendered":"

Bitcoin\u2019s price action has been relatively stable in recent days, <\/a>currently trading just above $107,000 after briefly touching previous highs<\/a> near $108,000.\u00a0<\/p>\n

Amid this backdrop, technical analysis from a popular crypto analyst on the TradingView platform outlined a compelling <\/a>structural setup forming on Bitcoin\u2019s daily chart. The analysis shows that Bitcoin\u2019s action is in a compression phase that could precede a breakout to $115,000 very soon.<\/p>\n

Compression Structure Forming Below $108,000 Resistance<\/h2>\n

Bitcoin\u2019s price action is currently following movements in traditional risk assets like the S&P 500 and Nasdaq, both of which have recovered following the recent de-escalation of<\/a> geopolitical tensions in the Middle East. Against this backdrop, crypto analyst RLinda shared an outlook on TradingView that highlights a structural setup forming on the D1 chart and predicts a breakout to as high as $115,000 if some resistance levels are cleared.\u00a0<\/p>\n

According to RLinda, Bitcoin is in the middle of a compression phase just below the $108,100 resistance level. This follows what the analyst describes as a false breakout above $100,000, which led to a brief distribution and now an active accumulation zone. The daily chart shows price action gradually tightening within the $106,500 to $108,100 range since June 25, the essence of which the analyst called a pause for a breather before a possible continuation of growth.\u00a0<\/p>\n

The current setup has already established well-defined boundaries, with support at $106,500 and $108,100 as immediate resistance. A breakout above this immediate resistance would pave the way for the next resistance around $110,400 and bring Bitcoin within striking distance of its all-time high at $111,000. On the other hand, a short-term pullback toward $105,650 is still possible before a new move to the upside.<\/p>\n\n

Bitcoin Price Levels To Watch<\/h2>\n

Bitcoin\u2019s price action is really pressing on this<\/a> resistance level around $108,000 and is building momentum for a breakout <\/a>once the price level gives way. The key resistance levels to monitor are stacked around $108,100, $108,900, and $110,400. As long as the structure between $106,500 and $108,100 holds, and Bitcoin\u2019s price is sticky near the top of that zone, the breakout scenario becomes increasingly probable.<\/p>\n

Although there are currently no reasons for a decline on the daily and weekly candlestick charts, the analyst noted that a temporary pullback to $105,650 or even $104,650 cannot be ruled out.<\/a> However, even such a pullback would likely only serve as a retest but still keep the broader setup intact.\u00a0<\/p>\n

At the time of writing, Bitcoin is trading at $107,457, up by 0.5% in the past 24 hours. The breakout trigger is still at $108,100. If broken, Bitcoin could easily move to new highs around $115,000.\u00a0<\/p>\n

Featured image from Unsplash, chart from TradingView<\/em><\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin\u2019s price action has been relatively stable in recent days, currently trading just above $107,000 after briefly touching previous highs near $108,000.\u00a0 Amid this backdrop, technical analysis from a popular crypto analyst on the TradingView platform outlined a compelling structural setup forming on Bitcoin\u2019s daily chart. The analysis shows that Bitcoin\u2019s action is in a […]<\/p>\n","protected":false},"author":0,"featured_media":76945,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-76944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/76944"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=76944"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/76944\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/76945"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=76944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=76944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=76944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}