Bitcoin (BTC) has broken above $98K, pushing closer to the psychological $100,000 milestone, with momentum building and technical signals flashing green.
Key Highlights:
- BTC Price: Breaks above $98,000, printing a new local high
- RSI: Daily RSI climbs above 70, confirming bullish momentum
- Dominance Metrics: Bitcoin dominance rises sharply while altcoins lag
- Market Cap Resistance: TOTAL nears $2.97 trillion; breakout incoming?
- Volatility Index: BVOL7D breakdown suggests explosive move ahead
🔍 Bitcoin Technical Overview
Bitcoin’s price action has flipped decisively bullish:
- RSI is above 70, a key strength indicator.
- OBV (On-Balance Volume) is trending higher.
- The 4-hour chart shows a TBO “reset” pattern, hinting at a potential Breakout Cluster, just like the April 21 rally from $86K.
Key Resistance Levels:
- $100,000 (psychological barrier)
- $109,000 (all-time high)
📊 Market Dominance Snapshot
- BTC Dominance: Surges with RSI at 85.18 — Bitcoin leads the charge.
- Top 10 Dominance: Weakening as capital rotates into BTC.
- Altcoin Dominance (OTHERS.D): Attempting to bottom, but upside limited so far.
🌐 Crypto Market Cap Trends
- TOTAL Crypto Market Cap: Nearing resistance at $2.97T with rising volume.
- OTHERS (Altcoin Market Cap): Testing key resistance; breakout depends on volume support.
⚡ Volatility Compression Could Trigger Massive Move
BVOL7D just printed a third consecutive TBO Breakdown, historically a bottoming pattern for volatility. If history repeats, BTC could soon experience a sharp rally, especially given current technical strength.
🪙 Altcoin Watch
- ETH: Pectra upgrade fizzles; gains just 1%.
- LINK, SUI, LTC, BCH: Following BTC higher.
- CRO: Prints TBO Open Long.
- Small Caps: KAITO (+62%), STX sees volume triple, ONDO & TIA test resistance.
📈 What’s Next for Bitcoin?
Bitcoin’s breakout above $98,000 sets the stage for a potential move toward $100K and beyond, especially if macro sentiment (like China-US trade talks) continues to improve.
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