The MACD (second panel from the top) is still positive. Just the rush of this morning has pushed the MACD line(blue) clearly above the signal (orange). The MACD is therefore bullish.
Of course, the RSI bullish is also (When in the last few weeks was it really bearish?). He has been so overbearing with 94 as it has never been the case this year. Of course, this is a signal to caution, but the course developments over the last few months have taught us that overbilling is not immediately a sign of a price drop. The Chaikin oscillator (lower panel) is still positive.
So far, everything is very, very positive. Of course we see that we are in a rally and have to see what happens when this is over (then a good moment for bagholders would have come to bring their profits home), but all the signs are still bullish. Looking at different time scales has always been worth it, just to see if the trend can be confirmed in the long term. And yes, he finds it: On the 240-Min-Chart we see the development of the last month:
The course has actually always gone up.Yes, he has twice tested the
, but otherwise it just went up. Again, we see that in the last few days the price increase has increased in speed. The indicators are also positive here, with both the very strong discrepancy between MACD line
and signal and the astronomical altitude of the RSI for an early consolidation. This impression is confirmed by a glance at the 1D chart over the whole of last year: In itself, everything here is also positive. But the RSI is also overbought in the 1D chart. The rise in the last two days was like the DAO-inspired end of June, is even steeper. "
What is also striking - and with all the jubilation a bit to prudent reminders is the speed of the price increase :
- in stark contrast to the rather quiet price rise since the end of October. This is also quite comparable with the development of the bitcoin course in the summer (the latter by the Bitfinex hack has an end).
Ultimately, this should not panic. But as Buzz Aldrin returned from the moon as the Enterprise returned to Earth, a course climb will eventually come to an end. Let us take a look at how the course now works on the above-mentioned Resistance, which has existed since the beginning of 2014 - and we are looking forward to a really great development of Bitcoin!
Disclaimer: The price estimates presented on this page do not constitute a recommendation to buy or sell. They are merely an estimate of the analyst. Image Base of data from cex io and therocktrading com