Bitcoin at a Crossroads: Rally or Drop?

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The Bitcoin RSI shows that momentum is stretched, and the asset has climbed into overbought territory, which means it may be due for a brief retrace.

Bitcoin (BTC) has arrived at a crossroads after its recent rally past $106,000. Market participants are speculating whether the digital asset will see more momentum to register new highs or retrace a bit to cool off.

A tweet thread by market expert Ali Martinez has outlined factors that could contribute to bitcoin’s surge or correction in the coming days. He believes the cryptocurrency will eventually hit an all-time high, but it remains unclear if the asset will experience a correction first.

Will BTC Surge or Retrace?
According to Martinez, BTC has hit a critical resistance zone around $107,000 after rallying at least 42% in the past month. This region has historically been a turning point for past rallies, as seen in December and January. The analyst insists a daily close above $107,000 will provide the push BTC needs to reach new highs, but until that happens, market participants remain patient.


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