Bitcoin (BTC) Trend Analysis: $91,000+ Breakout

Bitcoin’s surge past $91,000 marks a historic high, driven by strong buying pressure, macroeconomic factors, and technical indicators. Here’s a concise breakdown:

1. Breakout Above Resistance: BTC has decisively cleared the $85,000–$90,000 range, fueling FOMO and attracting investors.

2. RSI in Overbought Territory: While the RSI is above 70, overbought conditions can persist in a strong bull market.

3. Moving Averages Confirm Uptrend: BTC remains above its 50-day and 200-day MAs, with the golden cross earlier this year reinforcing the bullish trend.

4. Fibonacci Support: A pullback could find support at the 61.8% level (~$85,000), offering a potential entry point.

5. On-Chain Metrics: Increased whale activity and declining selling pressure indicate strong confidence in BTC’s future.

6. Macro Tailwinds: Dovish central bank policies, inflation concerns, and the 2024 halving event are driving demand.

7. Technical Targets:

- Bullish: $95,000 and $100,000 next; $100K+ could spark a parabolic move.

- Bearish: A drop below $85,000 could see support at $80,000–$75,000, though unlikely if the trend holds.

BTC’s momentum remains robust, but traders should monitor pullbacks and macro developments.