Bitcoin Daily
Bitcoin is beginning this week very determined and imposing. A accumulation channel while the OBV indicates higher highs, usually mean that a rally is about to happen. And this was our case too: we had the price hovering in the 5000$ - 5300$ region and the OBV showing higher highs (A). However, the RSI reentered the overbought area and there's also a bearish divergence (B), which might result in bulls taking profit and the price dropping. The MACD is about to indicate a bullish cross (C).
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Moving Averages
The golden cross (55 day EMA - blue, crossing the 200 day MA - grey) happened in a formidable manner, with a lot of momentum and confidence. Remember that the 55 was under the 200 since March 2018. At the moment we're riding along and finding great support at the 8 and 13 day EMA's (brown, green). The trading volume (calculated by Coinmarketcap) is increasing recently, reaching the January 2018 levels (and we already surpassed them once!) - $15,625,846,632 at the moment of writing.
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Closer Look - 4h Chart:
We finally broke out of the ascending channel, with a bullish MACD cross and a growing histogram. Notice how we always found support at the 55 EMA (blue), therefore a revisit in the near future is quite probable. The RSI is also very high in the overbought region.
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