Bitcoin bulls aim to maintain a price of $109,000 to increase chances of breaking above $111,980, a new all-time high. Recently, Bitcoin's price rose above $109,000, nullifying a bearish descending triangle pattern. This is seen as a positive sign, bolstered by strong investments into spot Bitcoin ETFs and ongoing uncertainties from the US Federal Reserve regarding interest rates. A successful closure above key resistance levels could propel Bitcoin towards a target of $150,000. Conversely, sellers are expected to defend the $110,500 to $111,980 region vigorously. If Bitcoin retreats but finds support at its moving averages, it could signal continued bullish sentiment. Analysis indicates that the moving averages are ascending, and the RSI remains positive, suggesting that bulls currently have the upper hand. However, if downward momentum pulls Bitcoin below its moving averages, a dip back to $105,000 or lower could occur.

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