The price of Bitcoin has reached a new all-time high after a gradual upward trend over the past few months. Investors are curious how far BTC can go.
- On the daily chart, the price has surpassed the previous high of $74K with significant momentum. With the market still trading near the 200-day moving average, BTC may rise higher in the coming months, with a short-term target potentially being $80K. 📈
- However, the RSI indicator shows an overbought signal, which could lead to a short-term correction. As long as the market maintains above the $64K level, the overall trend remains bullish.
- The recent BTC funding rate indicates an optimistic sentiment, but it hasn't reached a boiling point yet, suggesting continued growth potential. 🚀