@hooiyewlim 24 March 2025 more from that month

Bitcoin Breaks Resistance: Is a New High Incoming?

**Technical Analysis:** **Current Price & Trend:** Bitcoin (BTC/USDT) is trading at $86,348.38, up +2.54% in the last 4 hours. The price is in an uptrend, breaking recent resistance levels. **Moving Averages (EMA):** EMA(7): $85,337.50 (short-term support) EMA(25): $84,603.65 (medium-term support) EMA(99): $84,789.69 (long-term support) The short-term EMA is above both the medium- and long-term EMAs, indicating bullish momentum. **Support & Resistance:** Immediate Resistance: $87,453.67 (recent high) Immediate Support: $84,989.26 A break above $87,453.67 could push BTC toward new highs. **Volume Analysis:** The volume (3,359 BTC) has increased, supporting the upward momentum. If volume remains strong, it can sustain the breakout. **RSI Indicator:** RSI(6) is at 84.37, indicating overbought conditions. A pullback or consolidation may occur before further upward movement. **Conclusion**: BTC is in a strong uptrend but is overbought. If it breaks above $87,453, expect further gains. Otherwise, a short-term pullback could happen.