Bitcoin Rally Holds Support Above $52K; Next Resistance Near All-Time High

Bitcoin Rally Holds Support Above K; Next Resistance Near All-Time High
Bitcoin (BTC) continues to strengthen after breaking above $50,000 earlier this week and rallying Thursday to a five-month high. The cryptocurrency was trading around $54,000 at press time and is up 5% over the past 24 hours. Overbought signals suggest risk of a pullback, albeit limited to support around $50,000-$52,000.The intermediate-term uptrend has improved over the past few months, which could keep buyers active toward the all-time high near $64,000.The relative strength index (RSI) is the most overbought since September, which preceded a correction. However, a similar downturn is unlikely given strong upside momentum and a series of breakouts on…