Encouraging Organizational News: The institutions "Fannie Mae" and "Freddie Mac" have announced that cryptocurrencies will be considered when evaluating mortgage applications in the United States, a significant step towards integrating digital currencies into the traditional financial system.

Technical Analysis: Bullish Signals and Warnings:

From a technical perspective, Bitcoin's price recently broke above the 50-day exponential moving average, which many analysts consider a strong bullish signal that may drive the price towards $120,000. The majority of technical indicators on the daily and weekly timeframes support a "strong buy" outlook.

However, some technical indicators, such as the Relative Strength Index (RSI), show signs of the price reaching the "overbought" territory, which may indicate the potential for a price correction or a period of sideways trading in the short term before resuming the upward trend.

Summary:

While current sentiment clearly leans towards the positive, driven by strong fundamental news, caution is warranted. Investors and traders face a market that shows significant bullish potential but is not without risks of volatility and sudden price corrections. Therefore, monitoring key support and resistance levels and understanding the current market dynamics are essential for making informed investment decisions.

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