Bitcoin price news: Cryptocurrency price SWING – exponential moving average hints BULL r…

The world’s leading cryptocurrency has been unable to produce a convincing bullish breakout over the past four months.

Throughout 2018 BTC has set lower price highs, which suggest the direction of least resistance is to the downside, Coin Desk reports.

But a failure to beat a key support, the 21-month exponential moving average (EMA), hints the sell-off from the $20,000 (£15,350) price high reached in December 2017 may have run its course.

Following the indication from the failure to beat EMA support, conditions are poised for BTC to leap above the recent lower price high of $7,429 (£5,700) to pave the way for a bearish-to-bullish trend.

Hacked reported on Friday Bitcoin’s price was on the verge of a major breakout.

The predication came as a key momentum indicator crossed the Relative Strength Index (RSI) for the fourth time this year.

An analysis based on RIG trend lines maintains each of the previous three crossovers produced a sharp vacillation in prices.

When the last crossover…