Published on July 27th, 2015 | by bitcoin0
This Week in Bitcoin: Will Valuation Hit $300? Bulls Say Yes
Over the last few days, price has traded in a tight range below US$280, unable to remain above.
The RSI has held above 50 even as the price went lower: 50 is the support level of RSI as the price is now above it and looking bullish.
Last week’s price alert noted:
“The price has come off that extreme reading after the cascading price action last week.
Last week it was said
“Price is sitting on the middle band right now, and if it falls below price could follow.
Price needs to stay above the middle band.”
Price held right above and bounced higher, which should remain as support for now.