Bitcoin Technical Analysis: What’s Next After $104,000?
According to the legendary analyst team, Bitcoin has decisively broken through the $100,000 resistance level on the daily chart and is currently trading around $104,000. This breakout shows that Bitcoin has clearly broken out of the month-long upward trendline and the squeeze between the 100- and 200-day moving averages.
The price has broken back above two moving averages, both of which are around $90,000, and the RSI is above 70, indicating strong momentum. However, this also suggests that the price has entered slightly overbought territory. If buyers continue to press and there is no major sell-off, Bitcoin could see a new all-time high.
