Bitcoin: Bulls are back
|Bitcoin
Life has come back for Bitcoin as the crypto king's performance has been attractive once again. It seems like the pain is over for Bitcoin, and there may not be any period of consolidation as Bitcoin has started to march towards all time high once again. On the 4-hour time frame, the price has jumped above the 50, 100, and 200-day SMA, which is the first bullish signal for Bitcoin. As long as the price continues to stay above these, the chances are that we will see higher highs for the Bitcoin price. The RSI, which was trading near the oversold regions, has also started to move, which confirms a positive correlation between the price and RSI—a sign that Bitcoin price is likely to continue to move higher.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.