Short term

Bitcoin is within an approximate horizontal trend channel in the short term, which indicates further development in the same direction. An inverse head and shoulders formation is under development. A decisive break of the resistance at 108946, ideally with an increase in volume, signals a further rise. The currency has given a positive signal from the rectangle formation by a break up through the resistance at 107710. Further rise to 115727 or more is signaled. The currency is approacing resistance at 110000 points, which may give a negative reaction. However, a break upwards through 110000 points will be a positive signal. The currency is overall assessed as technically slightly positive for the short term.