After 2 days of bearish action, Bitcoin jumped right back over the $8000 level and it’s currently trading at $8066. The RSI levels were cooled off a little, however they are now overextended again on the daily chart. Bitcoin found strong support at $6913 and it’s now gaining a lot of momentum enough to break the last 2019 high of $8366.
Looking at the 4-Hour chart, we had a small equilibrium pattern starting at the low of $6913. We formed a high at $7458 and a higher low at $7156. Several hours later, bulls broke the high and saw a lot of continuation, 9% gains within 4 hours and further continuation right now. Considering the strength bulls have shown, it’s quite possible that we will break the high directly without even setting a higher low. The RSI is not overextended yet on the 4-Hour chart and the 12 and 26 day EMA have crossed bullish again.
The hype for bitcoin is still increasing in the mainstream media. Bitcoin search results are as high as they were in March of 2018 although still far away from the high in 2017.
Charlie Shrem, founder of the bitcoinfoundation.org announced that 60Minutes will air its first Bitcoin episode ever where he explains why crypto is important and needed.
Looking at the 4-Hour chart, we had a small equilibrium pattern starting at the low of $6913. We formed a high at $7458 and a higher low at $7156. Several hours later, bulls broke the high and saw a lot of continuation, 9% gains within 4 hours and further continuation right now. Considering the strength bulls have shown, it’s quite possible that we will break the high directly without even setting a higher low. The RSI is not overextended yet on the 4-Hour chart and the 12 and 26 day EMA have crossed bullish again.
The hype for bitcoin is still increasing in the mainstream media. Bitcoin search results are as high as they were in March of 2018 although still far away from the high in 2017.
Charlie Shrem, founder of the bitcoinfoundation.org announced that 60Minutes will air its first Bitcoin episode ever where he explains why crypto is important and needed.