$BTC The short-term trend is bullish, with BTC forming higher highs and higher lows. It’s trading above the 50-day and 200-day Simple Moving Averages (SMAs), which are sloping upward, reinforcing a strong uptrend. The 50-day SMA is around $87,892, and the 200-day SMA is projected to hit $93,292 by early June.

A potential ascending triangle breakout is visible, suggesting bullish continuation. The price has respected an upward channel, with a recent breakout from a consolidation zone between $90,000-$95,000.

Key Indicators:

Relative Strength Index (RSI): The 14-day RSI is at 66.69, indicating neutral-to-bullish momentum. It’s close to overbought territory (above 70), so a short-term pullback to $95,000-$97,000 is possible if momentum stalls.

Moving Average Convergence Divergence (MACD): The MACD shows a bullish crossover with growing histogram bars, supporting the current uptrend.

Volume: Positive volume balance indicates aggressive buying pressure, with buyers outpacing sellers. However, a lack of significant spike in trading volume suggests the breakout needs stronger confirmation.

Support and Resistance:

Support: Key support lies at $95,000 (recent breakout level), with additional cushions at $90,000-$92,000 and the 200-day EMA around $85,300. The $87,500 level is also critical if a deeper correction occurs.

Resistance: Immediate resistance is at $100,000-$100,674, with a stronger barrier at $104,550. A break above $100,000 with high volume could push BTC toward its all-time high of $109,356 (Jan 20, 2025).

Bullish Case: If BTC holds above $97,800 and breaks $100,000 with strong volume, it could target $104,550 or even retest $109,000 in the coming weeks. Sustained institutional inflows and positive macro conditions (e.g., stable liquidity) support this.

Bearish Case: Failure to stay above $97,000 could trigger a corrective phase, with a drop to $95,000 or $90,000. Overbought RSI and neutral futures funding rates hint at possible consolidation.