In the after-halving day, we take a look at the technical setting for BTC. Our selection of indicators is clearly affected by the movementof the last weekend. MACD has just turned negative, while both RSI and CCI are not giving a clear indication. ADX is also signaling a weakening uptrend, while Vortex is signaling the same and could be near to a sell signal.
The past week was all about BTC again. Bitcoin is under the spotlight of investors for the approaching halving event, which is going to happen in about three days. Basically, at the moment the rest of the top projects can only wait and see.
While Bitcoin is nearing 10,000 USD, we have a look at two technical indicators: RSI and MACD. BTC’s RSI is currently over 70, and therefore signaling an overbought situation. MACD is showing a positive and supportive setting. We will have an in depth look at all major projects technical settings in tomorrow’s Weekly Crypto Report.
The last thirty days saw a general strong uptrend for the market. Bitcoin paved the way with a very strong performance which cancelled the fallback of March. Altcoins followed united, with all the sectors and the sizes of projects which performed very well on aggregate.