Bitcoin Explodes
#Bitcoin has exploded in 2021 today breaking $41000 and still going strong.
Bitcoin closed up 1,416.629 at 41,188.879. Volume was 62% above average (neutral) and Bollinger Bands were 289% wider than normal.
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
Summary
Bitcoinis currently a massive 187.3% above its 200-period moving average and is in an upward trend.
Volatility is extremely high when compared to the average volatility over the last 10 periods.
There is a good possibility that volatility will decrease and prices will stabilize in the near term.
Our volume indicators reflect very strong flows of buying into Bitcoin (bullish). Our trend forecasting oscillators are currently bullish on BTC= and have had this outlook for the last 23 periods.
Our momentum oscillator is currently indicating that Bitcoin is currently in an overbought condition.
The security price has set a new 14-period high while our momentum oscillator has not.
This is a bearish divergence.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 9 white candles and 1 black candles for a net of 8 white candles. During the past 50 bars, there have been 31 white candles and 19 black candles for a net of 12 white candles.
Three white candles occurred in the last three days.
Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
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