Bitcoin briefly fell below $30,000 Monday, just two days after topping that level for the first time.
The cryptocurrency rallied to edge past the $34,000 mark during the weekend. But plunged to $29,316 as of 5:40 a.m. ET Monday. It later climbed back above the $30,000 level. But it was still down more than -5%.
Bitcoin had a historic, more than +300% rally in 2020.
But the volatility in the crypto market has been quite apparent from time to time, with the latest intra-day roller-coaster in bitcoin probably a result of short-term profit taking by investors, among other potential factors.
BTC.X's Aroon Indicator triggered a bullish signal on July 25, 2024. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 430 similar instances where the Aroon Indicator showed a similar pattern. In of the 430 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at .
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows