$BTC Technical Indicators and Market Sentiment
Technical analysis indicates strong bullish momentum:
Moving Averages: The 50-day Simple Moving Average (SMA) is approaching a crossover above the 200-day SMA, a pattern known as a "Golden Cross," which often signals a bullish trend.
Relative Strength Index (RSI): The RSI remains in overbought territory, reflecting strong buying pressure.
Analysts project potential short-term targets of $116,000, with some forecasting a "blow-off top" at $128,000. Long-term projections, considering the growth in global money supply (M2), suggest Bitcoin could reach $132,000 by the end of the year.