BTCUSD – Bulls Strong but Overbought! | 4H AnalysisBitcoin / U.S. dollarBITSTAMP:BTCUSDforexinworldBitcoin (BTCUSD) has rallied sharply from $110K to $124K, gaining strong bullish momentum. Price is now trading well above the 20/50/100/200 SMAs, confirming the uptrend. However, RSI is entering the overbought zone, suggesting a possible short-term pullback before continuation. 🔹 Technicals Trend: Strong Bullish (above all major SMAs) Resistance: $124,500 – $126,000 Support: $122,500 (20 SMA), $120,000, $118,000 RSI: Near 70–75 → Overbought, slight bearish divergence ✅ Bullish Case: If price sustains above $122,500 and breaks $126,000, we may see an extension toward $128,000 – $130,000. ⚠️ Bearish Case (Pullback): Failure to break $126,000 could trigger a correction toward $120,000 – $118,000 before another leg higher. 📌 Trading Plan Long Entry (dip-buy): $122,500 – $120,000 Target: $126,000 → $128,000 → $130,000 Stop Loss: Below $118,000 🔑 Summary Bitcoin remains in a strong bullish trend, but the market is short-term overheated. Best opportunities are on dips or a confirmed breakout above $126K.