IT - Bitcoin



"While Elon Musk and Jeff Bezos are focused on Mars, billionaire venture capitalist Tim Draper has his feet firmly planted on the ground. Draper might appear to have his head stuck in the clouds with a lofty $250,000 bitcoin price prediction. But from what he tells Fox Business, the early bitcoin investor isn't stargazing..."



"Bitcoin printed an eight-month high of $6,964 earlier today. Further strengthening the long-term bullish bias is a bull cross of the 100- and 200-day moving averages (MAs) - the first since July 2015.

A sustained move toward the next resistance at $7,411 (September 2018 high) could be preceded by a price pullback, as the 14-day relative strength index (RSI) is currently reporting overbought conditions.

Pullbacks, if any, will likely be reversed by the historically strong 30-day moving average (MA), currently at $5,450.

The long-term bullish outlook would be invalidated only below the 200-day MA at $4,405..."

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