- BTC break half year downward slide to close at $3,854
- Technical Indicators suggest, BTC in Over-bought region
After posting continuous monthly losses for six months, Bitcoin ended the losing streak by posting 11.5% return in February. Increase in Bitcoin price also helped wider Coin Index to rise by 16%.
However, the outlook seems to be not that bright. The Global Strength Indicator, which measure technical momentum of Bitcoin poses bearish channel for Bitcoin as it fails to sustain $4,000 for the third consecutive month.