$BTC BTC

Technical Analysis for BTC/USDT Pair: Strong Bullish Momentum with Eyes on Breaking the Historical Peak

The chart for the $BTC against the digital dollar USDT shows clear buying strength and strong bullish momentum.

After finding solid support around the $98,200 area in late June, it embarked on a strong upward wave, successfully recording a new peak approaching $112,000.

The technical indicators support this positive outlook; the price is currently trading steadily above the moving averages (MA 7, 25, 99), indicating that the overall trend is bullish across different time frames.

Additionally, the MACD indicator shows a positive crossover and is above the zero line, confirming the continuity of bullish momentum.

Furthermore, we see that the On-Balance Volume (OBV) indicator is on an upward trajectory, reflecting liquidity flow and pressure $BTC .