Bitcoin Bull Run: Price Breaks $18K Resistance, Eyes $25K Level

• Bitcoin’s price has broken above a significant resistance level following the CPI announcement.
• The 200-day moving average (~$20K) remains the major obstacle for bulls to be considered bullish.
• Technical analysis suggests that BTC could increase to the $25K level soon if the 200-day moving average is broken.

Bitcoin has been on a tear in recent weeks, as the cryptocurrency has been on a bull run since the CPI announcement. The digital asset has been trading in a large falling wedge pattern for the past month, and finally, the price has broken above the $18K resistance level and the higher boundary of the wedge. This is a strong sign that suggests BTC could soon reach the $25K level.

However, there is still one major obstacle that bulls need to overcome before they can be considered truly bullish. The 200-day moving average (~$20K) remains intact, and breaking above this psychological barrier could lead to a strong rally toward $25K. This could be made possible by increased buying pressure and bullish sentiment in the market.

From a technical analysis point of view, the RSI indicator shows significantly high values, indicating that the market is overbought. This could lead to a short-term pullback or even a correction before the price resumes its upward trajectory. Moreover, the MACD histogram is also showing rising bullish momentum, which could lead to a breakout in the near future.

Overall, it seems that Bitcoin is on the brink of breaking through the $20K level, and if it manages to do so, it could reach the $25K level soon. This could be a strong sign for the entire cryptocurrency market, as it could signal the beginning of a new bull run.
Only time will tell if these predictions come true, so investors should remain cautious and closely monitor the market.