Bitcoin has surged past a crucial resistance level within its ascending trading channel, backed by significant trading volume exceeding $22 billion. This technical breakout positions the cryptocurrency for potential gains toward the $150,000–$170,000 range.
Simultaneously, the weekly Relative Strength Index (RSI) approaches a major long-term downtrend line. A decisive breakout above this resistance would signal renewed bullish momentum, reinforcing the price action. Analysts emphasize this convergence of price and RSI dynamics significantly heightens prospects for a sustained upward trend.
Market observers note that maintaining support between $108,000 and $110,000 remains critical. Holding above this zone prevents a false breakout scenario and supports continued advancement toward higher price targets. The strong volume accompanying the breakout lends further credibility to the bullish case.