$BTC Next move after hitting 76,000$:
Based on the BTC/USDT chart, Bitcoin has recently broken through a resistance level at approximately $76,000. Here’s a brief analysis to consider the next potential target:
1. Resistance Level: The immediate resistance level is near $77,200 (recent high). If Bitcoin breaks and holds above this, it may gain momentum toward the next target.
2. Technical Indicators:
Stochastic RSI is high at 96.83, indicating overbought conditions, which could lead to a short-term pullback.
RSI(6) is also high at 80.49, reinforcing overbought conditions.
Exponential Moving Averages (EMAs) are sloping upward, which suggests continued upward momentum. EMA(7) at 74,011 and EMA(25) at 70,112 act as short-term supports.
3. Potential Target: If momentum continues and Bitcoin breaks past $77,200, the next possible target could be around the $80,000 psychological level, as this would be a key round number that often acts as resistance.
4. Support Levels: In case of a pullback, support can be expected around $71,400 and $64,700, based on recent price activity and EMA levels.
Consider monitoring these levels closely, and be cautious of potential volatility given the overbought indicators.
