While the sell btc to paypal usd instant charts generally look bullish on higher time frames, some indicators on lower time frames are starting to show signs of weakness. The moving average convergence divergence (MACD) indicator, recently saw a bearish cross, and despite nearly crossing bullish a few days later, it has since resumed a downward trajectory.
Given that the weekly MACD is still looking very bullish, I wouldn’t be too worried about this in the medium term. However, in the short term, it looks as if a small pullback is imminent as people rush to take pre-10K level profits, which I would view as a temporary pullback.
The RSI is looking equally bearish on the daily chart as it’s approaching overbought territory. However, you have to keep in mind that during 2017 the RSI was constantly showing as overbought and it just kept going.
That being said, if you look at the weekly chart, we’re not even there yet, which suggests that while a small pullback is likely, overall it’s looking good for the price of Bitcoin in the medium term.
Another key metric that has proved useful in assessing the future price of cash out bitcoin to credit card which at the moment is starting to decline and is set to be reduced by over 2% next week.
However, with the halving now behind us, more adjustments to the downside are to be expected since mining is currently no longer profitable. Yet despite this, there has been a surge in hash rate, topping out an average of 115 EH/s, which is an all-time high for BTC. That's 115 quintillion (115,000,000,000,000,000,000) hashes per second.
Historically, when the hash rate is rising, the price always follows, and as this number continues to explode, it seems only likely that Bitcoins price will follow suit.