Crypto Analyst: Bitcoin Price (BTC) RSI Breaks Into Bull Market Territory8.4

The first ever cryptocurrency has struggled to recapture the enthusiasm and exuberance prior to the 2017 hype bubble pop. Since then Bitcoin price has declined over 85% to its eventual bottom, and a brutal and hard-fought bear market has caused investors to question the long-term validity of BTC and its altcoin cousins.

But on long-term price charts, signs that the momentum has turned are evident. On the 1-week RSI, the important momentum indicator has broken into bull market territory for the first time since the start of 2018 when the crypto market first began to collapse.

Original source
https://www.newsbtc.com/2019/05/06/bitcoin-price-btc-rsi-bull/

Add comment

Please Sign in to be able to leave comments.