Bitcoin cryptocurrency trades up $1,679, approximately 6.68% higher this afternoon

After closing the previous trading day at $25,021, Bitcoin is up to $26,700, which makes for a move of 6.68%/$1,679 today.

Investors are seeking long positions as Bitcoin price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Bitcoin has crossed the upper Bollinger Band® at $25,723, a potential sign that further gains are to follow. Despite this, first developed in 1978, the relative strength index (RSI) is a momentum oscillator that measures both the speed and rate of change in price movements within a market — measured as a 0-100 index. In Bitcoin's case, the RSI has fallen below 30, indicating the asset is oversold.

Overall, looking at the technical analysis landscape, it seems Bitcoin might continue pointing upwards in the short term.

Other markets are also showing gains as FTX Token jumps 9.54% to trade around $1.36. Litecoin leaps up 6.4% to trade around $84.06. Having closed the previous session at $126.08, Bitcoin Cash is up 5% today to currently trade at around $132.35.

This year has been a bright one for Bitcoin after trading as low as $15,759 and going on to appreciate by 43.54% year to date.