- Bitcoin surged above $100,000, marking its highest point since early February.
- Price movement follows the announcement of a U.S.-U.K. trade deal and optimism about future trade talks with China.
- Key technical levels to watch include overhead resistance near $107,000 and $120,000, with support around $100,000 and $92,000.
Bitcoin climbed past the $100,000 level on Thursday, reaching this milestone for the first time since February, according to Investopedia. This increase came as financial markets responded positively to a new trade agreement between the United States and the United Kingdom.
By late Thursday evening, Bitcoin was trading at $102,700, recovering from an intraday low of about $96,000. The cryptocurrency’s price had dropped earlier in the year, falling sharply from February to April. The decline was attributed to uncertainty about tariffs and slow progress on reforms to support the crypto sector.
The recent rally is linked to rising confidence in global trade prospects. President Donald Trump announced the U.S.-U.K. deal and shared optimism about scheduled trade talks with China this weekend. Bitcoin rose alongside stocks after these announcements.
According to Investopedia, technical analysis shows that after Bitcoin regained its 200-day moving average last month, the price entered a consolidation period before breaking above $100,000. Analysts note that an overhead resistance level is near $107,000—where previous highs formed a “double top” pattern in December and January. The report projects a possible upside target of $120,000, depending on market momentum traced through breakout patterns.
The relative strength index (RSI), a measure of market momentum, registered above 70, which signals strong price movement but may also indicate overbought conditions. This could result in short-term profit-taking.
Investopedia also highlights that Coinbase trading volumes have decreased since April, suggesting institutional investors may not be heavily involved in this latest surge.
Investors are advised to watch crucial areas: resistance at $107,000 and $120,000, with support expected at $100,000 and $92,000. If Bitcoin falls below $100,000, further decline toward $92,000 is possible, aligning with support from the 200-day average and key trendlines.
Further technical information and charting resources are available in the original Investopedia article.
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