The phenomenon recovery from $9,100 gave Bitcoin a kick above the moving averages. The technical picture is still positive despite Bitcoin being oversold. The cryptocurrency market stays in the green as week’s trading grinds to a halt. After opening the week amid negative volatility, Bitcoin buyers focused on higher levels. The phenomenon recovery gave Bitcoin a kick above the 50 Simple Moving Average (SMA) 1-hour chart and later the 100 SMA 1-hour. Overcoming the hurdle at $9,800 allowed Bitcoin to set eyes on $10,000 and higher levels. The price action progressed above $10,200 before tackling $10,500 resistance. At the moment, $10,600 remains unconquered. The technical picture is still positive despite Bitcoin being oversold. The Relative Strength Index (RSI) still holds position above 70. Retreat from this high levels will market the beginning of a correction. For now, the price is above the moving averages, which is a key bullish indicator. The Moving Average Convergence Divergence (MACD) trend shows the return of the bulls. The current bullish divergence shows that it is only a bump away from the $11,000 medium-term milestone. BTC/USD 1-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next RBA: Cash rate going sub 1% – ANZ FX Street 4 years The phenomenon recovery from $9,100 gave Bitcoin a kick above the moving averages. The technical picture is still positive despite Bitcoin being oversold. The cryptocurrency market stays in the green as week's trading grinds to a halt. After opening the week amid negative volatility, Bitcoin buyers focused on higher levels. The phenomenon recovery gave Bitcoin a kick above the 50 Simple Moving Average (SMA) 1-hour chart and later the 100 SMA 1-hour. Overcoming the hurdle at $9,800 allowed Bitcoin to set eyes on $10,000 and higher levels. The price action progressed above $10,200 before tackling $10,500 resistance. At the moment,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
