Bitcoin (BTCUSD) rose in its recent intraday trading, supported by the positive momentum that was caused by its stability above EMA50, which provides it dynamic support that reinforces the continuation of the bullish trend, and the price keeps moving alongside a bullish bias on the short-term basis, which indicates the strength of the dominant positive track on the last trading.
Accompanied by the emergence of the positive signals on the (RSI), despite its stability in overbought levels, which suggests a temporary truce or a limited gains gathering, but the technical expectations remain preferring the continuation of the rise if the price settles above the current key technical levels.
Therefore, our expectations suggest more of the upside moves in bitcoin’s upcoming trading, if it settles above $102,000, to target the resistance at $106,000.
The expected trading range is between $102,000 support and $106,000 resistance.
