Daily Times

Since June 18, Bitcoin has been rising above an ascending support line. The line has been verified several times, the most recent being on July 26. On July 30, this resulted in a local high of $24,668. The daily RSI, which is still above 50, has also been following an upward support line during this time (green). Bitcoin managed to break out of the $21,750 horizontal resistance region and a descending resistance line that had previously been in place since the end of March during the upward rise. However, no big upward rise has occurred. Instead, it has been retracing since the breakthrough.