Bitcoin (BTC/USD) experienced a significant upward movement in recent intraday trading, successfully breaching its current resistance level at $86,000. This surge occurs amid a dominant bullish wave on the short-term charts, despite the presence of a bearish trend line. The overall outlook remains bullish, with continued positive support driven by Bitcoin’s trading above the 50-period Exponential Moving Average (EMA50).
Furthermore, the Relative Strength Index (RSI) has shown positive signals, even as it enters overbought territory, reinforcing the likelihood of continued upward momentum.
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