BTC Technical Analysis

The world’s largest cryptocurrency hit an intraday high of $38,415.90 on Wednesday, which is its highest level in the last six sessions.

Today’s move comes as the 14-day RSI on BTC/USD broke out of its recent resistance level of 30, which typically signifies prices being oversold, and is now tracking at 38.

Despite remaining relatively oversold, this short-term bullish momentum has led to the 10-day (red) EMA slowly curving out, with the potential for an upward cross with the 25-day (blue) EMA gradually increasing.

If this were to occur, history shows that there could be increased buying pressure, as prices would likely break above the $40,000 ceiling. Which is an area where previous bull runs have started.

Ok now that the mods have stopped reading, I swear to god if I have to read one more post or comment where you reet hards overuse the term “DCA” I’m gonna move to El Salvador, use BTC to buy a dildo, and fly back to whatever shithole each and every one of you live in and make love to your mothers. HODL these nuts and DCA your way into my dink and bawls.