| 
March 24, 2023
During a 5 day uptrend, Bitcoin gained a total of $8,126, or 39.23%. Now turning against its recent performance, Bitcoin is down to $28,166, after ending today at $28,356. Overall, a 0.67% loss or $190.34 today.
The Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Bitcoin has just crossed the upper Bollinger Band® at $26,229, indicating an upward correction could be on the horizon. On the other hand, note that 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.
Despite suffering losses in today's session, technical analysis is indicating that Bitcoin will undergo a significant bounce in the immediate term.
In the meantime, negative performances are also seen in other markets, Ripple is trading around $0.434 (down $0.011).
Other assets are showing positive performances as FTX Token added 9.54% to its value, now trading at $1.36.
