Bitcoin Don Hit $123K; Bitcoin Cash Dey Hold Pass $500, Eye $567
Bitcoin don jump pass di $120,000 resistance go reach new all-time high above $123,000 dis week. Di weekly RSI stand for 71 and ADX for 27, confirm say strong uptrend dey wit di 50-week EMA over di 200-week EMA. Meanwhile, Bitcoin Cash (BCH) hold above $500, form higher low above di 21-day SMA and dey test di 61.8% Fibonacci retracement. BCH now dey eye di 1.618 Fibonacci extension at $567. Key resistance levels na $126,554 and $134,371 for Bitcoin, and $520, $540, $560 for BCH. Support zones dey near $115,575/$110,500 for BTC and $400/$380/$360 for BCH. Traders suppose watch for RSI divergence, ADX wey dey above 25, and SMA breaks to sabi how di momentum dey shift. Overall, di technical indicators for both Bitcoin and Bitcoin Cash show say more upside potential dey, make di outlook bullish for BTC and BCH.
Bullish
The breakout of Bitcoin above $123K wit strong RSI and ADX readings, plus Bitcoin Cash’s higher-low formation and Fibonacci setup, dey signal say bullish momentum dey grow. Historically, when Bitcoin RSI pass 70 and BCH get Fibonacci extension triggers, e fit lead to more gains. For short term, traders fit expect sey the upward trend go continue while dem dey watch RSI divergence and SMA support. For long term, if moving averages align and institutional confidence hold, e fit solidify an extended uptrend.