- Bitcoin trades above key support levels, showing strong buyer confidence and sustained momentum in the market.
- The RSI breakout highlights renewed market interest, signaling potential for further price movement in the coming days.
- Volume activity near $95,000 strengthens Bitcoin’s base, creating a path for possible growth toward $105,000 resistance.
Bitcoin climbed to $102,983 as key indicators pointed to a potential breakout and a strengthening bullish trend in the market. The Super Guppy expansion, RSI breakout, and VRVP support reclaiming near $95,000 to $100,000 reinforce growing confidence in the cryptocurrency.
BTC expanding on the Super Guppy, breaking out on the RSI, reclaiming VRVP density support level.
Does not look bad to me… pic.twitter.com/0cShm7cogl
— Cryptofy Hub (@CryptofyHub) January 21, 2025
Super Guppy Highlights Trend Continuation
Bitcoin is expanding its upward movement according to the Super Guppy, a tool that uses moving averages to assess trends. The indicator shifted to green, which signals positive momentum that aligns with Bitcoin’s position above the 200-day moving average.
Bitcoin’s price trading above this long-term average suggests the market could be entering a strong phase of growth. Moreover, the chart highlights significant trading activity near $95,000 to $100,000, which creates a solid foundation for price movements.
The Super Guppy and trading volume together indicate a market preparing for a possible extended rally as confidence builds.
RSI Breakout Signals Renewed Buying Interest
Bitcoin’s RSI, a momentum gauge, has broken its downward trendline, confirming a bullish shift as it currently measures 59.80. This breakout above 50 shows buyers regaining control and suggests further price increases could occur in the near term.
The RSI breakout is supported by Bitcoin’s price staying well above key support levels and aligns with the upward momentum from the Super Guppy. These indicators together create a strong case for continued bullish sentiment in the market.
Traders are closely watching resistance levels near $105,000, which could challenge Bitcoin’s next moves upward.
Volume Levels Reinforce VRVP Support
The VRVP, which measures trading activity at various price levels, highlights strong support near $95,000 and $100,000. This zone shows high trading activity that helps stabilize Bitcoin’s price while buyers defend these levels.
The combination of high volume and reclaiming this key range adds to Bitcoin’s foundation for potential future gains. Analysts note the importance of Bitcoin maintaining its position above these support levels to sustain momentum.
Market data shared by analysts suggests that Bitcoin is positioning itself for a continued upward trend as buyers gain confidence. The question remains whether Bitcoin can sustain its momentum and move past $105,000 in the coming weeks.