Bitcoin Price Faces Key Hurdles: Can Bulls Power Through?

Introduction
Bitcoin has embarked on a fresh upward trajectory, now trading above the crucial $108,500 level supported by the 100 hourly Simple Moving Average. Our latest analysis in cryptocurrency news examines the key hurdles ahead as BTC consolidates with a potential breakout into new highs near $110,750.

Market Overview and Technical Insights
Recent data from Kraken reveals that Bitcoin's price has risen steadily from the $107,500 mark. A connecting bullish trend line is forming on the hourly chart with support around $109,200, suggesting that buyer interest remains strong. Key technical points include:

• Fresh upward movement initiated above $107,500
• Consolidation above $108,500 with 100 hourly SMA support
• Critical resistance near $110,750 and bearish hurdles potentially mitigated by the bullish trend line at $109,200

Implications for Global Crypto News
This dynamic scenario is one of the most discussed topics in global crypto news. If Bitcoin clears the $110,750 threshold, we could see renewed bullish momentum that may attract wider institutional interest.

Additional Expert Insights
For investors aiming to optimize their cryptocurrency strategies, it's important to explore related queries such as crypto tax tips and how to build a crypto portfolio. Effective tax planning and portfolio diversification are crucial in managing the inherent volatility of cryptocurrency investments.

Stay informed with our fintech blog as we continue to provide timely updates and actionable insights into the ever-evolving cryptocurrency landscape.

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