Bitcoin is currently trading at $10,900 and eying up $11,000 seeing a significant increase in trading volume and overall interest. The daily RSI is of course, overextended but it will not stop the bulls as the momentum is simply too strong.
Obviously, the daily chart is now extremely bullish after Bitcoin managed to climb above all resistance levels established in 2020. There aren’t many resistance points until $12,300 now but some indicators might slow down the buyers.
BTC/USD had a massive rally towards $11,000 after a small breakout above $10K on July 26. The number one digital currency is experiencing a significant increase in trading volume while eying up $12,300, the 2019-high.
Ethereum is clearly leading the crypto space right now after a massive breakout above $250 and $300. ETH bulls managed to crack $288, the 2020-high and were facing practically no resistance until $363.
Unsurprisingly, ERD is finally down after a massive 5,100% bull rally. However, the current candlestick is still green even after the significant rejection at $0.03. Of course, the daily RSI remains overextended
Bitcoin Cash (BCH) extended the upside momentum and hit $262.80. BCH/USD gained over 7% in a matter of hours amid strong bullish momentum based on technical factors.
Bitcoin made its way out of the range finally. The first digital coin settled above 50-day SMA, which is a great technical improvement and a hope for Bitcoin bulls who set their eyes on new highs. While the optimism is growing stronger, we still need to grope with lots of technical barriers and fundamental setbacks.
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