Bitcoin made a 13-month intraday high today at $31,829 and is a few minutes away from a daily candle close above the $31,046 red horizontal resistance level set in mid-April of this year. The move up in crypto, Bitcoin and crypto-related stocks today comes after a federal judge ruled that Ripple(XRP) is not always a security which has been an ongoing court battle to determine. This opens the door for XRP and other crypto's which have been or were considered to be securities to likely be re-listed on US exchanges such as Coinbase. Ripple was one of the most popular crypto currencies prior to being sued and delisted from exchanges.
www.marketwatch.com/...-a-security-6ed0361b
Bitcoin is currently trading above all of it's moving averages(8,21,34,50,100,200) and all averages are in proper bullish order with the 50sma crossing above the 100sma today.
The lower PPO indicator shows the green RSI line below the purple signal line which indicates short-term bearish price momentum, but the green RSI line is heading higher on today's rally and is close to crossing back above the signal line which would indicate a return to short-term bullish price momentum. Both the RSI and signal lines remain above the 0 level which indicates intermediate to long-term bullish momentum.
The lower TDI indicator show the green RSI line back above the 60 level which indicates short-term bullish price trend. The RSI line has also crossed back above the purple signal line and into the upper half of the white Bollinger Bands which also indicates a return to a bullish price trend. Going forward we want to see the RSI line trend between the 40-60 levels as an indication of intermediate to long-term bullish price trend.
www.marketwatch.com/...-a-security-6ed0361b
Bitcoin is currently trading above all of it's moving averages(8,21,34,50,100,200) and all averages are in proper bullish order with the 50sma crossing above the 100sma today.
The lower PPO indicator shows the green RSI line below the purple signal line which indicates short-term bearish price momentum, but the green RSI line is heading higher on today's rally and is close to crossing back above the signal line which would indicate a return to short-term bullish price momentum. Both the RSI and signal lines remain above the 0 level which indicates intermediate to long-term bullish momentum.
The lower TDI indicator show the green RSI line back above the 60 level which indicates short-term bullish price trend. The RSI line has also crossed back above the purple signal line and into the upper half of the white Bollinger Bands which also indicates a return to a bullish price trend. Going forward we want to see the RSI line trend between the 40-60 levels as an indication of intermediate to long-term bullish price trend.