BTC Soars to Highest Point Since June 2022, is $30K in Sight? (Bitcoin Price Analysis)
On the daily chart, the price has rebounded decisively from the significant 200-day moving average, located around the $20K mark a few days ago. Since then, the market has been trending impulsively to the upside, finally breaking above the $25K resistance level.
Currently, the key $30K zone is the next probable target for the price in the short term. A breakout above this area would be wonderful for the bulls, as the market would likely enter a bullish phase in the coming months.
However, the RSI indicator should be monitored closely as it is entering the overbought zone, and a bearish pullback or consolidation is probable in the short term.
