The cryptocurrency market has seen positive momentum this weekend, according to CoinStats data. Bitcoin (BTC) is experiencing a price increase of 1.44% in the last 24 hours. Analysts are observing that the crypto’s hourly chart shows it near local resistance at $105,718. A breakout could lead to a test of the $106,000-$107,000 price range shortly. Looking at broader timeframes, a sustained rise above the $106,329 level signifies potential for the price to reach $108,000. However, it’s important to note that Bitcoin has recently experienced a false breakout of its resistance at $100,764. While this is a sign of strength, more time may be needed before the price significantly increases. Based on current trends, sideways trading within the range of $104,000-$108,000 appears to be the most likely scenario in the near future. As of press time, Bitcoin is trading at $105,550.