Bitcoin trades at $103,466.50 with an intraday high of $104,916.93.
RSI stands at 75.59, signaling strong buying momentum above overbought levels.
MACD shows a 644.31 spread, confirming upward price momentum and bullish strength.
Bitcoin has regained momentum, surpassing the psychological $100,000 mark and currently holding at $103,426.87. The asset hit an intraday high of $104,916.93, confirming bullish continuation after a breakout above recent resistance. Technical indicators show strong upward pressure, suggesting that BTC’s rally may extend in the near term.
RSI Enters Overbought Zone as MACD Shows Bullish Crossover
According to a one-day TradingView chart, it is notable that the Relative Strength Index (RSI 14) currently reads 75.59, which is above the overbought threshold of 70. This indicates strong buying interest, though historically, such readings have also preceded short-term pullbacks.
Source: TradingView
The RSI has maintained higher lows and recently crossed above its moving average at 68.34, confirming bullish strength. As long as the RSI stays elevated, buyers retain control. However, any dip below the 70 mark could hint at a brief cooling-off period.
The Moving Average Convergence Divergence (MACD) indicator supports continued upward movement. The MACD line is at 3,822.57, while the signal line stands at 3,178.26, creating a wide bullish spread of 644.31. Histogram bars continue to print positive values, reflecting increasing momentum in favor of bulls. The sharp incline in both MACD lines over the last week further confirms growing strength.
Bitcoin Current Market Action Revealed
Tracking Bitcoin's market trend as of press time, CoinMarketCap data indicates that Bitcoin is trading at $103,466.50 after experiencing a 0.32% intraday decline. The 24-hour high was $104,916, while the low touched $103,103. Volume dropped by 13.87%, totaling $44.58 billion, with a market cap now standing at $2.05 trillion. The Fully Diluted Valuation (FDV) is $2.17 trillion.
Source: CoinMarketCap
Price activity shows fluctuations within a narrow band between $103,000 and $105,000. Early trading hours saw a brief spike to $104,916 before retracing. By midday, prices held above $104,000 with several attempts to retest the intraday high. However, price action weakened toward the afternoon session. A sharp drop followed during late-night trading, dragging BTC below $104,000 again. If the RSI remains above 70 and the MACD spread widens, BTC could retest the $105,000 region in the short term. The indicators align with a bullish price structure seen on the daily chart. However, overbought conditions may bring short-term volatility.
