š Bitcoin Analysis: Bullish Momentum Strengthens
Based on the daily chart ofĀ $BTC / USDT from WhiteBIT, weāre seeing a strong uptrend that has been building since early April. The price has broken above the upper Bollinger Band and is holding above the moving average ā a classic signal of continued bullish pressure.
š Key Observations:
Bollinger Bands are expanding, with price currently trading above the upper band (approx. 104,450). This often suggests heightened volatility and strong bullish momentum.
RSI (Relative Strength Index) is around 75, indicating overbought conditions ā while this could mean a short-term pullback is possible, it also confirms the strength of the current rally.
MACD is in bullish territory with a wide gap between the MACD line and the signal line, reinforcing the upward trend.
š”Ā $BTC Ā is showing strong momentum with support from both technical indicators and price action. However, with RSI entering overbought territory, short-term consolidation wouldnāt be surprising before the next leg up. For swing traders and short-term participants in the ICTC tournament, this could be a key moment to either lock in profits or position for continuation after a dip.
