Bitcoin has made a spectacular comeback from the $63,000-$64,000 range to its current level between $80,000 and $81,000. The 365-day moving average, estimated at approximately $83,057 by CryptoQuant, now represents the major technical hurdle to overcome in order to confirm a bullish trend reversal. The daily RSI stands around 83, indicating overbought conditions. Three scenarios are being considered: a breakout above $83,000 paving the way to $85,000-$90,000, a pullback toward $76,000-$78,000, or losing the $71,800 support level reopening the possibility of a move back to the $60,000 range.
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