BitRss.com latest Crypto World News

Search and discover the latest Cryptocurrency updated Stories in Categories.

24-7 Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources.

Will Bitcoin (BTC) Consolidate Around $10,000? Analysts Sure Think So

Will Bitcoin (BTC) Consolidate Around $10,000? Analysts Sure Think So

Bitcoin Consolidation Inbound



Volatility is back in full swing in these Bitcoin (BTC) markets. Ever since falling under $10,000 yesterday, BTC has been in a bit of a tumult, finding itself everywhere from $9,750 to $10,800. While some are expecting a large breakout to the upside, some have suggested that BTC will continue to consolidate in this range for maybe a few more weeks. Here’s why.



As Twitter statistician PlanB points out, Bitcoin’s 12-month Relative Strength Index (RSI), an indicator meant to determine if an asset is “overbought”, “oversold”, or otherwise, has struggled before surmounting 70.



In 2012, 2013, and 2016, this technical reading has always fallen and consolidated around 50 to 60 before breaking past 70. This time is no different. If history is of any indication, BTC may continue to consolidate for a few months, which would most likely translate to Bitcoin establishing a range around $10,000.




Normal struggle before RSI 70+ #bitcoin

BitRss.com shares this Contents with License.

Thank you for Share!

   
Read the full Article

Read the full Article: Will Bitcoin (BTC) Consolidate Around $10,000? Analysts Sure Think So


Search Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, from up to 70 Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

24h Most Popular News