Bitcoin is finally getting ready to break the 60K $ level! 🎉 After the recovery from $52K on the daily chart, the RSI is above 50 and the market momentum is rising again. However, for a long-term rally, it needs to break the 200-day moving average at $64K.

On the 4-hour chart, the market has been making higher highs and lows since $52K. This suggests that the 60K $ resistance is imminent. The RSI has still not reached the overbought zone, indicating that the short-term increase may continue.

In on-chain analysis, the BTC supply rate on exchanges has been decreasing rapidly since February. This indicates heavy accumulation during the recent consolidation. If there is sufficient demand, the market may start a new rally towards higher prices. 🚀