Bitcoin on Track for Best Second Quarter Price Gain on Record

View Bitcoin's 165 percent gain so far this quarter is the best second quarter performance on record and the highest quarterly percentage gain since the end of 2017.

A minor pullback to $10,000 could be seen if the price again fails to hold onto gains above $11,000, validating a more bearish setup on the 4-hour chart.

The bullish outlook would be invalidated if the price finds acceptance below $9,097.

Bitcoin appears to be powering to the best second quarter price gain on record and the best quarterly performance overall since late 2017.

At press time, the 165 percent gain on the April 1 opening price of $4,092 is the biggest percentage rise observed in May to June to date, going by Bitstamp data.

Further, bitcoin's triple-digit gain so far for Q2 is the best quarterly rise overall since the fourth quarter of 2017.

Bitcoin has rallied 165 percent so far this quarter, surpassing the previous second quarter record gain of 130 percent seen in 2017.

The 626 percent rise seen in the first three months of 2013 is bitcoin's biggest quarterly gain to date.

With the 165 percent price rise, BTC seems to have left the bear market far behind.

The overbought readings on the RSIs would gain credence only if signs of bull exhaustion emerge in the form of candlestick patterns such as doji, bearish engulfing, hanging man, etc.