Bitcoin Holds Above $107K, Eyes Breakout Ahead of US Jobs Data

Bitcoin (BTCUSD)

Fundamental Analysis

Bitcoin is hovering around $107,000, maintaining a bullish structure after rebounding from the $105,500 support. While it has yet to break the $108,000 resistance, the medium-term outlook remains positive amid stable sentiment ahead of the upcoming U.S. jobs report.

On the policy front, Binance emphasized the government's role in fostering the crypto ecosystem. Bhutan stands out with its crypto-based tourism payment program and holdings of over 12,000 BTC.

Technical Analysis

After a strong rebound from the $97,766 – $102,374 support zone, BTC has broken above the EMA levels and is holding steadily above them.

Trading volume is showing signs of tapering off in the $107k–$108k range, indicating cautious buying pressure.BTC is currently consolidating just below the $108,766 resistance in a short-term sideways pattern. As long as $105,281 holds, the probability of a breakout remains high.

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