Crypto Express

07/18 11:23

Bitcoin: Momentum stays strong, but overheating

Bitcoin: Momentum stays strong, but overheating warnings are up!

Bitcoin’s daily chart showed bullish momentum, but caution may be warranted in the short term. The RSI crossed into overbought territory at 72.79, at press time, suggesting that BTC may be nearing exhaustion after its recent surge.

At the same time, the MACD indicator showed strong upward momentum, with a widening gap between the MACD and signal lines; a sign of trend continuation.

While the broader trend remains positive, a temporary pullback or sideways phase is increasingly likely as traders digest recent gains.

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