The past couple of days have seen Bitcoin (BTC) crossover above a key psychological resistance position. Bitcoin (BTC) is officially back above $6,000, a position it dropped below about 6 months ago. For many short-term traders, this move has come with much uncertainty. Though some had planned to short Bitcoin as soon as it hit $6,000, there's now a new feel that Bitcoin is headed for $6,500 and $7,000 soon. Currently, holders are split into two, those who think Bitcoin will track back and those who believe that the bear market is over and the only way is up. While opinion may be subjective, key indicators remain decisive and one of Bitcoin's <a href="https://www.cryptoknowmics.com/crypto/crypto-market-wrap-bitcoin-dominating-as-markets-retest-2019-highs/">key indicators</a> has just sided with those calling for more gains.

<strong>Relative Strength Index (RSI)</strong>

To make life hard for those who think Bitcoin might be dropping sometime soon, a key price indicator has just shown that the next couple of days could hold exponential gains. Following this week's rally, <a href="https://www.coindesk.com/weekly-bitcoin-price-indicator-prints-strongest-bull-signal-since-early-2018">Bitcoin's relative strength index (RSI)</a> has shot up to its highest since Jan 08, days after the asset's price reached a high of $20,000. The technical indicator calculates the speed and change in price movements.

In addition to strengthening its bullish technical prospect, the crypto leader has also managed to lure even more investors from altcoins in the last couple of days. Despite having an impressive dominance level in the last couple of weeks, Bitcoin has managed to make this even better. At the time of press, Bitcoin's dominance stands at 58%. This high dominance has in the past ensured prices remain stable after an upward move and that the coin can easily find a high support position. This could be crucial more than ever now that the leader is above $6,000 and if the recent bullish rally is to extend into the long term.

<strong>Bitcoin The Fastest Rising Asset in 2019</strong>

A recent report by Binance research team could be helping attract potential investors and this coupled with bullish indicators could easily see Bitcoin extend its gains.<a href="https://twitter.com/BinanceResearch/status/1125619470351757312"> A report by Binance has indicated that Bitcoin has been the best performing asset in 2019</a>. Bitcoin which is up by more than 55% in 2019 has outperformed all traditional assets with crude oil coming closest by a little over 33%.

So, its nearly half year and Bitcoin is up by more than 50%, if the same pattern is followed for the rest of the year, Bitcoin is guaranteed to end the year above $12,000.

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Bitcoin (BTC)’s Dominance Is Through the Roof and Records Weekly RSI Last Seen When Prices Were at $20K

John is an exceptional writer with a liking on technology, finance and the intersection of the two. A firm believer in the transformative potential of cryptocurrencies and the blockchain. When he is not writing, he likes to listen to Nas, Eminem and The Beatles.

Bitcoin (BTC)’s Dominance Is Through the Roof and Records Weekly RSI Last Seen When Prices Were at $20K

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