Bitcoin (BTCUSD) surged in recent intraday trading, breaking through a critical resistance level at $106,000, thereby reaffirming its dominant short-term bullish trend and maintaining a strong upward momentum.
The breakout above $106,000 marks a significant technical development, signaling renewed buying pressure and paving the way for potential moves toward higher resistance zones. Bitcoin’s price action continues to align with a clearly defined bullish trajectory, reinforced by sustained trading above the 50-day Exponential Moving Average (EMA50).
Further strengthening the bullish case is the Relative Strength Index (RSI), which has begun to exhibit positive signals following a brief period of overbought conditions. The RSI’s recovery suggests the possibility of renewed upward momentum as investors re-enter the market.
Analysts are now watching for follow-through buying that could propel BTCUSD toward the next major resistance levels, underscoring strong market confidence in the ongoing bullish trend.
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