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March 23, 2023
Maintaining its 5 days rise (+$7,063.33), Today's session so far looks to be heading in the same direction — after closing the previous trading day at $27,300, Bitcoin is up to $27,680, which makes for a move of 1.42%/$380.38 today.
The Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Bitcoin has crossed the upper Bollinger Band® at $26,055, a potential sign that further gains are to follow. In contrast, 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.
Bitcoin shows positive signs, other assets are also on par: having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Ripple is up 5.35%.
