The price of Bitcoin (BTC) has attempted a surge over the weekend, surpassing the 68.000 threshold. If BTC continues to trade around this range and trends upwards towards the 69.000, it could encourage more buying pressure, pushing the price towards its previous peak of 73.777.
The Relative Strength Index (RSI) is also a notable factor, as it currently indicates significantly higher levels compared to the 50-average. This demonstrates the strength and potential for Bitcoin's price to continue rising in the near future.
Additionally, the Simple Moving Average (SMA) is a crucial tool for analyzing price trends. The SMA 20 is showing a rather steep incline, indicating a strong upward trend in Bitcoin's price. However, observing a slight correction suggests there might be a short-term price decline before the market rebounds and resumes its strong upward trajectory.
The Relative Strength Index (RSI) is also a notable factor, as it currently indicates significantly higher levels compared to the 50-average. This demonstrates the strength and potential for Bitcoin's price to continue rising in the near future.
Additionally, the Simple Moving Average (SMA) is a crucial tool for analyzing price trends. The SMA 20 is showing a rather steep incline, indicating a strong upward trend in Bitcoin's price. However, observing a slight correction suggests there might be a short-term price decline before the market rebounds and resumes its strong upward trajectory.
