National Presto Industries Sees KDJ Golden Cross, Bullish Marubozu on 15min Chart

National Presto Industries's 15-minute chart has recently exhibited a bullish trend, as indicated by the occurrence of a KDJ Golden Cross and a Bullish Marubozu pattern on April 24, 2023 at 15:45. This suggests that the momentum of the stock price is shifting towards the upside and has the potential to continue increasing. As buyers are in control of the market, the bullish momentum is likely to persist.

Bitcoin (BTC) has extended its gains on Wednesday, following a two-day rally of 9.75% so far this week. The cryptocurrency is trading above $94,000 at the time of writing, with bullish momentum driven by several factors. Notably, US spot Exchange Traded Funds (ETFs) recorded an inflow of $936.43 million on Tuesday, the highest since January 17 [1]. Additionally, CME futures exposure has climbed to 140,000 BTC, with premiums exceeding 9% for the first time since January 22 [1].

The rally comes amid easing trade war fears following US President Donald Trump’s downplaying of tensions with China. Trump stated that he is not planning to fire Federal Reserve (Fed) Chair Jerome Powell, and the US Treasury Secretary Scott Bessent expects the trade war with China to de-escalate [1]. These announcements have supported the risk-on sentiment, driving risky assets like Bitcoin higher.

Institutional demand appears to be a key driver of Bitcoin’s recent price rally. According to the SoSoValue data, the US spot Bitcoin ETF recorded a net inflow of $936.43 million on Tuesday, the highest daily inflow since January 17 [1]. This indicates a rise in institutional interest in Bitcoin.

Moreover, CME futures exposure has increased to 140,000 BTC, with premiums exceeding 9% for the first time since January 22. This signals improved sentiment and long-term demand [1]. The Open Interest (OI) increased by 5,000 BTC over the Easter period, primarily driven by an influx of activity from active market participants [1]. While this marks an uptrend in CME leverage, exposure remains relatively soft compared to late Q4 to early Q1 levels.

The bullish momentum is also reflected in the Bitcoin price chart. Bitcoin faced multiple rejections around its 200-day Exponential Moving Average (EMA) at $85,000 since April 13. On Monday, BTC finally broke above this resistance level, rising 9.7% to close above $90,000. At the time of writing on Wednesday, it continues to extend its gains, trading above $94,000 [1]. If BTC continues its upward momentum, it could extend the rally to test its March 2 high of $95,000 before potentially reaching $97,000, its next daily resistance.

The Relative Strength Index (RSI) on the daily chart reads 68, approaching its overbought territory of 70, but has not yet crossed it and still indicates bullish momentum. Traders should be cautious if the RSI gets rejected and moves lower, as it would indicate fading bullish momentum and could potentially lead to a correction [1].

References:
[1] https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-forecast-btc-bullish-momentum-builds-as-premium-exceeds-9-for-first-time-in-three-months-202504231128