Bitcoin lifts above 17k

The rise of Bitcoin has continued again today. In an earlier update here it was noted that the price had tried during the Asian session to get above 17,000 but has stalled just short of 16,900. Well, over the course of the past 30 minutes the price has made another move higher as it rises to a session so far of 17,085. Now the current run could extend further, but it is worth noting that this is now approaching overbought territory as defined by the relative strength index (RSI). That is currently at 77.90 on a 14 Day basis and readings above 80 do indicate that an instrument is overbought. That might not stop it from rising further, but something to take into account if one is contemplating an entry at what are now fresh 2020 highs. Bitcoin is just now trading at 17,045