Bitcoin has been climbing along a steady ascending support line, now testing a key resistance zone around $122K that has previously acted as a strong rejection point. The Stoch RSI is deep in overbought territory, suggesting potential short-term selling pressure. A breakout above this resistance with strong volume could open the door to further upside, while another rejection may send price back toward the trendline for a retest.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.