Bitcoin (BTC) aims to return to a market capitalization of $2 trillion as bullish momentum gains strength. Technical indicators such as DMI and RSI show that the upward trend is strengthening, but also emphasize the need for sustained buying activity to maintain the momentum.
The EMA lines hint at a possible 'golden cross' that could push the price to test critical resistance levels around $98,870 and above.
Bitcoin DMI indicates an upward trend.
The Bitcoin DMI chart shows that its ADX is currently at 27.3, representing a significant increase from 13.6 three days ago. ADX, or Average Directional Index, measures the strength of a trend on a scale from 0 to 100, where values above 25 signal a strong trend and values below 20 indicate a weak or absent momentum.
The crossing of the ADX level of 25 indicates that the upward trend has significantly strengthened, reflecting increased market confidence in the current price direction.#CryptoReboundStrategy