In an important step that penetrated the Bitcoin major resistance levels, which enhances the upscale momentum that may push it to the next stage of height, and with the rise in the price now over the previous barriers, the market morale changes, and the confidence increases in the occurrence of a continuous rise.
Technical indicators such as RSI and MACD indicate that the upscale momentum is still continuing, which hints that the height may extend more before any signals appear on the decrease, and with Bitcoin restoring the main areas, it enhances the current upward trend and opens the door to achieve higher goals in the upcoming sessions.
How did Bitcoin go beyond resistance and what this means?
Chartfreedom participated in a recent publication on X with a bullish update about Bitcoin, stressing that the price may have overcome the resistance level at 94,274 dollars, indicating the strength and the continuation of the rising and supportive trend of powerful momentum reflects this penetration that traders are in a state of control, indicating that the upward trend may continue.
He also pointed to the importance of the moving average 50 (50 EMA), which is still working as a dynamic support level. This average has been tested during the previous declines, proving that it is a reliable bounce point that enhances the current upper structure.
The next goal .. 98,691 dollars
Chartfreedom has set 98,691 dollars as a major goal to follow, and this level corresponds to previous summits and expansion areas in Fibonacci, making it an important resistance level in which traders may start to take profits or reassess their positions.
The main indicators indicate more ascending
The last rise in the price supports a range of strong technical indicators, as the RSI has moved to the level of the 50 neutral and is now in the upper region, indicating that there is an additional field to rise without an immediate risk of decline.
While the MACD index shows a clear bullish intersection, as the MACD line excels on the signal line, and when RSI and MACD indicators correspond to this way, this indicates the possibility of continuing height.
In addition, an increase in trading volume is noted, which adds credibility to the upscale penetration, as the high trading size associated with the upcoming movement proves that traders of individuals and institutions participate in the upward move, and when the price, momentum, and size goes in the same direction, this indicates that the rise in Bitcoin may be out of completion.
Search for purchase opportunities
To take advantage of the bullish direction, Cartfreedom is recommended to search for opportunities for purchase during declines, especially near the level of 94,274 dollars, which works as strong support, and even if Bitcoin sees a slight correction, maintaining a upscale position is still valid as long as the price remains over the 50 moving average that continues to direct the current upward trend.
