Bitcoin is still in a bull run, but showing some signs of slowing down.
Here's the breakdown:
1. Price is Up:
- BTC is currently $118,000 (+0.90% recently).
- It broke $117,000, which is a positive sign.
2. Strong Momentum Bullish Signs
- The price is well above key averages (EMAs at $116,494, $115,877, and $109,033). This shows strong upward momentum.
- The RSI 64.79 is healthy – not too high (not "overbought") yet.
3. Minor Warning Signs Caution:
- The MACD indicator (blue line below chart) is negative (-84.19). This means the very short-term momentum has slowed a bit recently.
- It hasn't broken its recent high ($118,741) yet today.
4. Key Levels to Watch:
- Support (Floor): Around $116,500 (the 7-day average). If it stays above this, the bull run looks solid.
- Resistance (Ceiling): Near $118,750 (today's high). Breaking above this could signal a push towards $120,000+.
in short:
Yes, Bitcoin is still in a bull run – it's near 8-month highs and holding strong. However, the slight dip in short-term momentum (shown by MACD) suggests it might pause or pull back a little before potentially trying to break new highs. Watch if it can stay above $116,500 and break $118,750.
Note: This is based only on this single chart snapshot. Real markets need more context!
