Current price: $102,968

Overall trend: Strongly bullish

Recent highest recorded peak: $109,588

Nearest support: between $93,000 and $91,000

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1️⃣ A look at the moving averages:

• MA(7): $93,779 → acts as dynamic support in the upward trend.

• MA(25): $61,364 → reinforces the positive long-term outlook.

• The price is still maintaining trading above both moving averages.

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2️⃣ Momentum indicators suggest caution:

• RSI(6): 70.82

• RSI(12): 69.31

• RSI(24): 66.60

All indicate proximity to the overbought area, increasing the likelihood of a temporary pullback or consolidation.

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3️⃣ Price Action:

• After the correction from the peak, the price has returned to rise and is currently attempting to break the level of $109,588.

• Successful breakout may push the price towards $114,878 as a potential target.

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4️⃣ Technical Outlook:

• Positive scenario: Breaking the peak opens the way for continued ascent.

• Negative scenario: Failure to break may lead to a correction towards $93K – $91K.

Best decision? Wait for confirmation of movement at the peak

$BTC

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