Bitcoin consolidated at $62k, today up 2.41% in 24 hours, Ethereum up 3.75%. BNB rose 3.34%, Solana rose 5.97%. A high spike occurred in Dogecoin with a gain of 22.05% in 24 hours and a 7-day gain of 67.88%
The Fear and Greed Index is valued at 85 but bitcoin consolidation is expected to undergo an upside breakout and reach ATH
BTCUSD technical analysis
According to the indicator summary by Investing, Bitcoin today has a strong buy signal with details of technical indicators RSI(14) Buy, STOCH(9.6) Overbought, STOCHRSI(14) Buy, MACD(12.26) Buy, ADX(14) Buy, Williams %R Overbought, CCI(14) Buy, ATR(14) high volatility, High/Low(14) Buy, Ultimate Oscillator Buy, ROC Buy, Bull/Bear Power(13) Buy.
On Ticktrader FXOpen the Bitcoin price is above the upper band line indicating the market is trying to continue its bullish streak.
Bollinger bands appear to be expanding with a tendency to form an upward trend with high volatility.
The 50 MA is near the lower band forming a signal of increasing bullish momentum.
The RSI indicator which measures the overbought and oversold zone shows a value of 83 which means the price is in the overbought zone.
The BTCUSD H1 timeframe tends to consolidate and move in a narrow range between the Bollinger bands.
The price is now near the upper band line and forming a decision candle.
Bollinger bands form a flat channel that indicates falling volatility and sideways prices.
MA 50 near the middle band line forms a flat channel indicating a sideways market.
The RSI indicator shows level 57 which means the price is above the uptrend level.
An upside breakout may allow Bitcoin to trend continuation, while a downside breakout may pause the trend and return to consolidation.