Bitcoin has reached a new all-time high above $124,000, consolidating its position as the most relevant digital asset in the market.
This milestone occurs in a context of strong bullish momentum, backed by significant interest from participants and technical signals that reinforce the continuity of the trend.
Bitcoin's all-time high above $124,000: technical analysis and price outlook
Bitcoin is currently trading around $124,014, reaching a new all-time high that confirms a clear bullish trend. This advance occurs in a context of strong buying pressure, with technical signals reinforcing the likelihood of continued momentum.
Market interest is reflected in the confluence of indicators in positive territory, placing the asset in a prominent position against key levels.
The 14-period RSI marks a value of 74.15, sitting above the 70 threshold, which is technically considered overbought. However, the signal remains a buy, suggesting that the bullish pressure is strong and any pullback may be moderate.
In markets with strong trends, the RSI can remain at elevated levels for extended periods without necessarily implying a change in direction.
This behavior indicates that buyers are maintaining control and that declines may quickly find support in areas like $122,500 or $121,300.
Bitcoin price performance – 24 hours. Source: CoinGecko
The MACD shows a positive value of 966.83, with the fast average well above the slow one, reflecting robust bullish momentum. The MACD histogram continues to expand, reinforcing the reading that there is no imminent bearish crossover and that the odds favor new extensions of the upward movement.
As long as this setup remains, the price may head towards levels of $125,500 and even $126,000, provided that buying pressure does not weaken significantly.
The current context combines strong technical momentum with a favorable scenario in both short and long terms, which increases the likelihood that the price will maintain its positive tone.
In summary, Bitcoin is at an exceptionally strong technical point, with RSI and MACD pointing upwards and solid structural support. Although overbought zones suggest that consolidation phases may occur, the trend remains clearly inclined towards continuation of the rise, focusing on new records.
The article Bitcoin reaches a new all-time high above $124,000 was first seen on BeInCrypto Brazil.
