Cryptocurrency
Bitcoin Rises Drastically within No Time; Hits the Overbought Region
As reported by CryptoNewsZ, “Bitcoin price trend looks like a half hourglass, from trading around $7,340 yesterday to currently trading at $7,145.78. Within the said time frame, the price of BTC even hit below $7,000 at $6,851.62 on Coinbase, within no time. The moving averages are currently providing massive support to the coin as it […]
As reported by CryptoNewsZ, “Bitcoin price trend looks like a half hourglass, from trading around $7,340 yesterday to currently trading at $7,145.78. Within the said time frame, the price of BTC even hit below $7,000 at $6,851.62 on Coinbase, within no time. The moving averages are currently providing massive support to the coin as it corrects positively. The MACD that was giving a bearish outlook just had a bullish crossover as the RSI rises steeply from the oversold region towards the overbought at 67.68.
“Analyzing the intraday movement of BTC/USD, we see that the coin is trading positively currently until it takes any sharp turn. The market has been moving optimistically since yesterday after having a despairing trading week, previously. The coin plunged by over 6% from trading at $7,340.58; however, current counters are positive.
“Important to note that as Bitcoin price took a steep upturn, the MACD turned bullish as the MACD cut the signal line from down…”