#BTC#

Bitcoin's long-term horizontal movement around 103,000 USD, then exceeding the 105,000 USD level can be considered an upward breakout in technical analysis. Such breakouts are generally considered a signal that the upward movement may continue.
Possible reasons for this situation and things to watch out for:
* Increased Buying Interest: Breaking through the 105,000 USD resistance may indicate increased buying pressure in the market. This may mean that investors' expectations that Bitcoin will rise further are increasing.
* Technical Formations: This breakout may be part of a larger bullish formation (for example, a breakout of the upper band of an ascending triangle). Technical analysts may expect price movements in line with the targets of such formations.
* Market Sentiment: An improvement in general cryptocurrency market sentiment may also contribute to this rise. Positive news or developments may increase investors' risk appetite.
* Whale Movements: The buying of large Bitcoin investors (whales) can also have a significant impact on the price.
However, it is useful to be careful:
* Confirmation Level: It is important for the price to hold above €105,000 to see if the breakout is permanent. If the price drops below this level again in a short time, this could be a fake breakout.
* Volume: A high trading volume during the rise may indicate that the breakout is a stronger signal. Breakouts with low volume are less reliable.
* General Market Conditions: Bitcoin can still be affected by the movements of the general cryptocurrency market and global economic events. Therefore, it is important to consider these factors as well.
In summary: While Bitcoin breaking the $105,000 level is a positive sign, it is important to follow the market closely and evaluate other technical and fundamental indicators to understand whether this rise is sustainable.
Best regards