Bitcoin Breaks August Losing Streak with Rare 23% Gain

Bitcoin has ended its five-year losing streak in August, posting a rare positive return for the month. As of August 24th, Bitcoin's price stands at $78,327.17, marking an impressive 23% gain this August.

This development is significant, as it represents only the fifth time in Bitcoin's history that it has delivered a positive August return. The current price is testing the upper Bollinger resistance at $78,615.52, while the Relative Strength Index (RSI) flashes overbought at 70.1.

A healthy retracement to the 50-EMA support at $72,587.92 seems probable before further continuation as the MACD death cross at 17,979.79 signals fading momentum inside the bands.