Bitcoin has exceeded expectations by surpassing the $93,257 mark, leading to heightened bullish sentiment in the crypto market. This development has sparked optimism among traders and investors who anticipate further gains.
Currently, Bitcoin remains above the 100-day Simple Moving Average (SMA), indicating resilience and potential for continued growth. The 4-hour Relative Strength Index (RSI) has surged to 70%, suggesting strong bullish pressure, though some express concern about potential price corrections.
The daily RSI stands at 81%, maintaining a strong uptrend with no signs of reversal. The breakthrough at $93,257 suggests that Bitcoin could target the $100,000 level, though monitoring for resistance and market corrections remains crucial for sustaining this upward movement.
