Is BTC on the move? These metrics support a push beyond $28k
A look at BTC’s daily chart gave a positive notion, as most market indicators were in the bulls’ favor. For example, the Exponential Moving Average Ribbon displayed a bullish crossover.
The Moving Average Convergence Divergence also showed that the bulls were ahead of the bears in the market. ’s Relative Strength Index registered an uptick and was heading further up from the neutral zone. The Money Flow Index also followed the same trend and went up.In addition to that, BTC’s Chaikin Money Flow also increased, further suggesting that BTC’s price can increase in the coming days. However, the Bollinger Bands showed that BTC was in a less volatile zone, which can be concerning., Bitcoin’s exchange reserve was decreasing, indicating that the coin was not under selling pressure.
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