. He said that Bitcoin’s “risk vs. reward tilted favorably for one of the greatest bull markets in history."
The upsloping 20-day exponential moving average and the relative strength index in the positive territory indicate that bulls have the upper hand. If the price rebounds off the current level, the bulls will have another shot at the overhead zone between $24,276 and $24,668. If this zone is scaled, the bullish momentum could pick up further. Conversely, if bears sink the price below the 20-EMA, the pair could drop to the 50-SMA.) broke above the downtrend line on July 28, indicating a potential trend change.
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