3 min readBITCOIN (BTC/USD):
Bitcoin has resumed its remarkable upward trajectory, now trading once again above the $90,000 mark. This surge highlights the cryptocurrency’s sustained momentum, captivating both seasoned investors and newcomers as it reaches new milestones in the market.
A closer examination of the technical indicators reveals that Bitcoin appears to be in an “overbought” territory, as the RSI (Relative Strength Index) remains above the 70% threshold. From the technical analysis below, it’s evident that substantial support lies beneath the $80,000 level. Notably, a significant demand zone is positioned around $72,500, aligning with an internal ascending trend line. This trend line, which has previously played a key role in Bitcoin’s price movements, could potentially act as a strong support level once again.
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