Yesterday, bitcoin surged by an impressive 9% from daily low to daily high, surpassing the $58k mark.
Yesterday’s spike allowed bitcoin to climb back above the significant 50-day moving average line, after spending 11 days beneath it.
Earlier today, the bulls encountered a significant resistance area at $58,355, which was the previous all-time high set at mid-February.
After reaching this resistance, bitcoin retraced over $1000 to where it is trading right now.
The RSI managed to break the midline and climb above 60, indicating that the bulls have taken control of the short-term momentum and are increasing their hold.
Removing crypto from the equation, Yaz loves to watch his favorite football team and keep up-to-date with the latest fights within the UFC.