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Bitcoin is positioned to reach 110,000 USD after its breakout

Current price and trading volume: Bitcoin trades between 105,025 USD and 105,269 USD, supported by a substantial trading volume of 82 billion USD, emphasizing robust market engagement. This activity has driven Bitcoin’s market capitalization to 2.08 trillion USD.

Key levels and sentiment: Bitcoin has recently broken past 105,000 USD, achieving a record HIGH of 106,533 USD. Support is around 104,000 USD, making the current dip an opportune time to consider long positions targeting higher values.

Technical indicators signal caution: The relative strength index at 69 and Stochastic at 89 suggest an overheated market, prompting traders to consider profit-taking if prices fall below 104,000 USD. However, the long-term outlook remains bullish.

This is community-generated content, not advice from ONUS.
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