Analysis: BTC hits 8 months, new high, 100-day moving average and 200-day moving average first cash fork are all bullish

According to the analysis, BTC hit an eight-month high of $6,964 earlier today (May 11), and since 2015, the 100-day moving average and the 200-day moving average bull market intersection (Golden fork) have appeared for the first time on the market chart. This further strengthens the long-term bullish view. But in addition, since the 14-day Relative Strength Index (RSI) is currently overbought, there may be a price correction before the next resistance at $7411 (September 2018 high). If the price pulls back, the historic 30-day moving average (currently $5,450) may provide support to drive price reversal. In addition, unless the BTC price falls below the 200-day moving average ($4,405), it continues to be bullish.