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March 19, 2023
Bitcoin is on a 5 day bullish run gaining $6,781.58 (34.46%). As the session continues, it seems to maintain one direction — after closing the previous trading day at $27,000, Bitcoin is up to $27,200, which makes for a move of 0.7%/$200 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 $25,900, a potential sign that further gains are to follow. Despite this, 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 is up 9.54%. Bitcoin Cash gained 1.62% and is now trading at $133.72.
Bitcoin has gained 39.08% since its lowest print of $15,759 earlier this year.
