BTC’s RSI was in an overbought position, which can cause trouble.price gained upward momentum last week, allowing it to once again cross the $30,000 mark. The uptrend gave investors hope for better days as BTC’s price had remained relatively dormant for weeks. Though the price action looked optimistic, things can also turn the other way round if history is to be believed.After several weeks of waiting, BTC finally managed to put smiles on investors’ faces by registering a promising uptick.
As is evident from the chart, the last time such an event happened, it was followed by a decline in BTC’s price.’s daily chart did not provide a reason to be bearish on the coin. For instance, the Exponential Moving Average Ribbon displayed a bullish crossover as the 20-day EMA flipped the 55-day EMA.
The MACD’s findings also complemented those of the EMA Ribbon, as it did reveal a clear bullish advantage in the market. Additionally,Source: TradingView