Bitcoin: Bulls Are Back
Naeem Aslam | Jan 14, 2021 07:34AM ET
Life has come back for Bitcoin as the crypto king's performance has been attractive once again. It seems like the pain is over for Bitcoin, and there may not be any period of consolidation as Bitcoin has started to march towards all time high once again.
On the 4-hour time frame, the price has jumped above the 50, 100, and 200-day SMA, which is the first bullish signal for Bitcoin. As long as the price continues to stay above these, the chances are that we will see higher highs for the Bitcoin price.
The RSI, which was trading near the oversold regions, has also started to move, which confirms a positive correlation between the price and RSI—a sign that Bitcoin price is likely to continue to move higher.
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