Bitcoin is Preparing to Break Through $60K Resistance! 🚀

- Bitcoin price has started to challenge the $60K resistance by recovering from the $52K level.

- RSI is above 50 on the daily chart, indicating that the market momentum is on the rise again.

- However, for a long-term rally to begin, the price needs to break through the 200-day moving average at $64K.

- The uptrend continues on the 4-hour chart, and the RSI has not yet reached the overbought zone.

- The BTC supply rate on exchanges is decreasing, indicating that the market is preparing for a new rally.

Source: TradingView, CryptoQuant