Bitcoin (BTCUSD) showed steady gains in recent intraday trading, buoyed by strong momentum as it remained above the 50-day Exponential Moving Average (EMA50). This dynamic support level underpins the ongoing bullish trend, with the price continuing to advance along a short-term positive trajectory, signaling robust upward momentum.
The Relative Strength Index (RSI) has also presented positive signals, despite lingering in overbought territory. This suggests a brief pause or consolidation phase for gains; however, technical indicators still favor a continuation of the rally, provided Bitcoin holds above current key support levels.
Looking ahead, further upside movement is anticipated if Bitcoin sustains above $102,000, with the next resistance target set near $106,000.
Expected Trading Range: $102,000 (support) to $106,000 (resistance)
Today’s Forecast: Bullish
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