Bitcoin’s breakout above $118,000 and its bullish candlestick formations, rising moving averages, RSI nearing overbought, and bullish KDJ suggest solid momentum—but RSI above 70 often precedes pullbacks, and strong upper wick candles may signal resistance. Continuation or correction hinges on whether support holds near moving averages.
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Bitcoin's price may face increased volatility after breaking all-time highs. While momentum remains strong, a sharp correction is possible due to profit-taking and macroeconomic uncertainties.
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Bitcoin’s recent surge above $118,000 suggests strong bullish momentum, but it could face resistance or correction due to profit-taking or macroeconomic factors. The market’s volatility makes predicting short-term direction difficult.
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