Bitcoin Price Hits 8-Month High Close To $7K
CoinDesk, May 11th, 2019
May 11, 2019,
Volume 254, Issue 2

"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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