Bitcoin has surged above its 50-day Exponential Moving Average (EMA), signaling potential for a short-term rally toward the $120,000 threshold. This technical breakout suggests renewed bullish momentum, with analysts projecting possible gains of 10% to 20% from current levels.
The rebound occurs against a backdrop of geopolitical tensions that continue to influence cryptocurrency market volatility. Despite these uncertainties, Bitcoin exchange-traded funds (ETFs) recorded substantial net inflows totaling $938 million over the past week, indicating strong institutional confidence.
Technical indicators reinforce the optimistic outlook. The Relative Strength Index (RSI) currently stands at 54.69, reflecting room for upward movement before entering overbought territory. Meanwhile, the Moving Average Convergence Divergence (MACD) has entered a bullish zone, supporting the case for further price appreciation. Immediate resistance is expected between $108,000 and $110,000.
Key support levels to monitor include $105,000, $102,000, and $98,900. Failure to maintain these thresholds could trigger deeper corrective movements. Market observers emphasize that holding these supports is critical for sustaining Bitcoin’s upward trajectory.
The convergence of robust ETF inflows and positive technical signals strengthens the case for continued momentum. Market participants remain vigilant regarding geopolitical developments while monitoring Bitcoin’s ability to consolidate above critical technical levels.