Bitcoin price surges above $106K after breaking $105K resistance
Bitcoin price climbed past $105,000 on OKX on November 10, extending a 1.22% gain, then surged to $106,015.70 for a 2.18% daily rise. This rally reflects growing bullish momentum, driven by increased buying interest following consolidation near key support levels. Trading volume spiked as market optimism strengthened, positioning $105,000 as new support and $107,000 as the next resistance zone. The sustained Bitcoin price breakout may signal further upside potential, attracting momentum traders and reinforcing positive sentiment amid broader digital asset inflows. Traders should monitor volume trends and resistance levels for entry and exit points.
Bullish
The Bitcoin price breakout above $105,000 followed by a push past $106,000 underscores strong bullish momentum. In the short term, momentum traders may enter long positions as volume spikes and support at $105,000 holds, fueling rapid price advances. Over the longer term, sustained interest and broader digital asset inflows can reinforce confidence, potentially establishing higher support levels and encouraging trend-following strategies. Market participants will watch key resistance around $107,000; a successful breach could trigger additional buying, while a pullback to newly formed support may offer fresh entry points.