As Bitcoin surpassed $100,000, Changpeng Zhao, founder of Binance, made a lighthearted remark, calling $100,000 boring. Despite the significance of this achievement, many people are now wondering what Bitcoin will do next and whether it has further potential to rise. Not only Bitcoin At $100,000, it's a significant achievement, but it also reflects the growth of institutional and retail interest.

The 26 EMA and 50 EMA support a strong uptrend in the recent charts, indicating continued bullish momentum. The asset still has room for upward movement without being considered overbought, according to the Relative Strength Index, which currently sits at around 59. Volume has increased slightly, but not enough to indicate an exhilarating explosive top, which is frequently seen at the top. Peak market cycles.

In addition, the increase in open interest in Bitcoin Futures keep rising as more and more leveraged traders fill their positions. Examining the top 30 market indicators yields insightful information. It seems that the market has not overheated yet, as metrics such as Mayer Multiple and Bitcoin Pi Cycle Top are still well below their critical thresholds.

The MVRV Z-Score, currently at 2.97, is well below the 5.0 threshold that traditionally indicates a market peak. At 59, the 22-day RSI is well below the overbought level of 80 points. Far from the bubble zone above 80, the... Bitcoin The bubble index currently stands at 13.48. Based on this data, it appears that Bitcoin price action may still be in the early to mid-stages of a larger bullish wave.

Historical precedents point to further upside potential before notable corrections or an extended period of consolidation occur. Focus shifts to important resistance levels at $110,000 and $120,000 as Bitcoin consolidates around $100,000. It may be possible to achieve these goals in the near future if Bitcoin maintains its momentum and sees increasing volumes.