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March 26, 2023
Bitcoin is on a 5 day bullish run gaining $7,272 (37.38%). Heading in the same direction for now — after closing the previous trading day at $27,500, Bitcoin is up to $27,800, which makes for a move of 1.05%/$300 today.
Investors are seeking long positions as Bitcoin price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Bitcoin has just crossed its upper Bollinger Band® at $26,100, suggesting further gains could be on the cards. In contrast, the RSI is a momentum oscillator that measures changing price movements on a scale of 0-100. In Bitcoin's case, the index has risen above 70, signalling that the asset is overbought.
Overall, looking at the technical analysis landscape, it seems Bitcoin might continue pointing upwards in the short term.
Bitcoin shows positive signs, other assets are also on par: FTX Token added 9.54% to its value, now trading at $1.36. Binance Coin is up 1.25%.
