Bitcoin Breaks Out Above 100-Day MA, Eyes Rally Towards $90k

Bitcoin's recent breakout above the 100-day moving average (MA) has generated significant interest in the crypto community. This move marks the first time since the cycle peak that Bitcoin has closed above this important technical indicator.

The breakout is accompanied by strong daily Relative Strength Index (RSI) readings, which indicate a clear bullish shift in momentum. The RSI is climbing towards 70, but has not yet reached an overbought state, suggesting room for further price growth.

On the 4-hour chart, Bitcoin's post-breakout structure is textbook, with a retest of the breakout level adding conviction to the move. The upper channel boundary and $80k psychological level are converging as the immediate ceiling.