In the previous session, we saw bitcoin uncoil upwards. In the 1H chart, we can see that the uncoiling extended further during the Thursday April 2 session. Here are some observations:
1) Price has sprung up from the cluster of 200-, 100-, and 50-hour simple moving avearges (SMAs). This shows the market’s decision to turn bullish.
2) The RSI has tagged above 70, which shows initiation of bullish momentum.
3) Price is still holding […]
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