Today's analysis shows that Bitcoin is at a critically strong area, requiring close monitoring:

✅ Key technical points commenting on your view:

1. **Resistance ~58,000$ (Currently around 120,000$ actually)**

The 58–62 K area is considered a major resistance according to Crypto Rover.

Breaking it could open the door for further upward movement towards 68–72 K.

2. RSI indicates overbought conditions

RSI has exceeded 70 (+ above 75 according to Lookonchain), which is a warning of a potential short-term correction.

At the same time, bullish momentum is shown from the price increases of the past days +9%-12%.

3. **Moving Averages Convergence (Golden Cross)**

The 50-day crossing above the 200-day indicates a positive medium-to-long-term signal, reinforcing the positive scenario.

4. Formation of Cup-and-Handle pattern

A technical analyst (like Katie Stockton) points to a Cup-and-Handle pattern and it may reinforce bullish momentum towards a target of 134 K (~+14%).

5. Current price action

Currently, the price stands at levels ~120–122 K, indicating market vitality and a clear struggle between buyers and sellers.

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