BTCMXN Regains Strength

BTCMXN CHART PRICE – BTCMXN DAILY

Bitcoin’s relative strength index has increased from 46 to 50% in the last two trading sessions, it is currently right in the middle but we see that the price is looking to fight that downtrend from Monday session, the bollinger bands are opening up, which indicates that there could be a trend change, in which case it would be an uptrend, the price trades above Ichimoku cloud and the moving averages are still far apart, affected by the massive gains that bitcoin had in the last 40 sessions, the short term moving average has been decreasing but not enough to make a cross, it’s hard to make a prediction in current situation but it looks like bitcoin could made some progress in the short term.  

This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.