Top Trader Henrik Zeberg Unveils Bullish Bitcoin (BTC) Signal With Crucial Cautious

Bitcoin concludes October with a notable 30% price surge, captivating the attention of investors worldwide. The cryptocurrency community is rife with speculation about Bitcoin's future trajectory, with opinions varying widely.

Among the voices in this cacophony, respected trader Henrik Zeberg offers his insights.

In his recent analysis, Zeberg points to a significant development on the daily Bitcoin price chart – a rally following a breakout from the 200-day moving average, which currently hovers around the $33,000 mark. This move has shattered the formidable $30,000 price resistance, signaling strong bullish momentum on the market.

But before we start celebrating, Zeberg sounds a word of caution. The Relative Strength Index (RSI) has climbed above the 70% mark, indicating that BTC may be overbought, which could foreshadow potential short-term consolidation.