BTC surges > 200-dma toward resistance at 9K – Daily RSI overbought
BTC recaptures a key technical threshold accelerating above its widely monitored 200-dma. BTC surged above a key resistance level at its 200-dma toward its next resistance near 9K coinciding with a 76.4% retracement of the Q1 decline and the early March highs at 9.2K.
Given daily RSI and the 4-hour RSI have now moved into overbought territory, our expectation is for a short-term pause pullback to develop with first support near 8K near the 200-dma and 62% retracement zone.
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