Bitcoin: Logs Rare Positive August Return

Bitcoin has delivered a 23% gain this August at the current price of $78327.17, marking its first positive August return in five years and only the fifth such instance in its history.

With price testing upper Bollinger resistance at $78615.52 while RSI flashes overbought at 70.1, a healthy retracement to the 50-EMA support at $72587.92 seems probable before further continuation as the MACD death cross at 1797.79 signals fading momentum inside the bands.