Bitcoin = Bullish

One of the first ever futures contracts is due to be released today, and all signs on the short term BTC chart are seemingly bullish.

Let's take a look...

1 Hour Chart

As we can see from the chart above:

• The top red line, which has been acting as short term resistance is being broken
• The MA Cross has gone bullish
• The MACD is bullish, and
• The RSI is giving a bullish by reading around the 60 level too.

But what about on a longer time frame?

Long Term

BTC Daily Chart

Longer Term, we're seeing that BTC is:

• Giving an overbought reading on the RSI, despite the recent dips.
• We're still trading well above the long term resistance line. (Which should now serve as support) and
• The MA is still showing us a bullish signal.
• The MACD is still very high here, but Bitcoin doesn't seem to take much notice of that.

More Upward Momentum?

All in all; the signs seem to be saying that there is more upside ahead in the bitcoin bull market.

I've been expecting a correction for a while now, but it just doesn't seem to want to happen, and I wouldn't like to bet against Bitcoin at this rate.

But what do you think will happen? Let me know down below!

Thanks for viewing!

This post is not investment or financial advice.