$BTC

Bitcoin Eyes New Highs: RSI Hits 70+, What’s Next?

Bitcoin (BTC/USDT) is currently trading at $110,710, up +3.58% on the monthly chart, with a local high of $111,880 and the RSI peaking at 70.94—flirting with overbought territory. Momentum is clearly bullish.

Technical Snapshot:

EMA(9): $88,743

EMA(21): $72,369

Volume: 53K BTC+

Key Resistance: $117,333

Support Zone: $88,000 - $72,000 (EMA range)

Strategy to Consider:

Short-Term Bulls: With strong EMA alignment and RSI above 70, short-term momentum traders may look for a breakout above $111.8K toward $117K. Consider trailing stop-losses to protect gains.

Pullback Traders: Watch for a retest of the EMA(9) or EMA(21) zones as potential entries if price consolidates or rejects near the resistance.

Caution: RSI above 70 suggests BTC is approaching overbought levels—risk of short-term correction is real. Avoid FOMO and monitor volume spikes.