In the past few hours, the price of $BTC has surged above 118,000USD sparking renewed optimism across the market.
From a technical perspective:
Bitcoin has broken through a key resistance level, indicating the start of a potential uptrend.
Moving averages (MA50 and MA200) show a bullish crossover.
The Relative Strength Index (RSI) remains below the overbought zone, suggesting further upside without heavy selling pressure.
Liquidity is clearly increasing on exchanges, supporting ongoing momentum.
From a market standpoint:
Institutional interest in Bitcoin is on the rise
Whales are back in action, with a growing number of large wallets
The decreasing supply on exchanges suggests a "hold" mindset rather than selling
Outlook?
If BTC holds above the $63K level, we may see a push toward $70K and potentially $74K in the coming weeks, though minor pullbacks could occur.
What’s your take on this?
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