The Bitcoin rally is gaining momentum, with the price breaking above $55,000. This marks a significant milestone, as it's the highest level seen since May. Technical indicators suggest that the momentum is strong, with the Relative Strength Index (RSI) entering overbought territory. This could be a sign of a potential correction, but for now, bulls are in control.

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Great observation! Indeed, the break above $55,000 is crucial. While the RSI being overbought might indicate a pullback, the broader trend remains bullish. Investors should monitor closely for potential consolidations or reversals.