At the same time, other analysts are saying that bitcoin could potentially remain standing
in the bullish territory through the rest of the year.
The RSI continues to support the bullish case with a move higher
in bullish territory over 60 and the MACD continues to rise, also supporting more upside price action.
SLX and USO are the ETF in next five weeks till they started increasing and are
in bullish territory.
The RSI remains
in bullish territory on this timeframe but is falling with a MACD that has crossed down.
The Relative Strength Index (RSI) on the daily chart is moving sideways along the 70 technically overbought level,
in bullish territory with a Moving Average Convergence Divergence indicator (MACD) that is flat on the signal line and falling on the histogram.
All five of the trend indicators are
in bullish territory (which occurs very infrequently).
Bitcoin remains
in a bullish territory for now and is looking at further gains, though a pullback is possible if support at $ 7,900 is breached, according to technical studies.
At the same time, other analysts are saying that bitcoin could potentially remain standing
in the bullish territory through the rest of the year.
Not exact matches
The recent key break - out
in the precious metal carried it to overbought
territory, and although the long - term is clearly
bullish now, a move to test the $ 1300 level is likely, especially if the Fed joins the hawkish central bank trend.
Also, the true fundamentals have spent more time
in bearish
territory than
bullish territory since the second half of last September.
Ripple has moved into
bullish territory on the technical charts, with relative strength
in the high 60s and climbing quickly.
As for the technical indicators, the movement of the MACD line is displaying a weak
bullish signal, while the RSI indicator is showing that Bitcoin is
in overbought
territory, confirming a potential
bullish movement.