Bull Signal From Bitcoin Bottom Is Best Hope Yet For Continuation
Bitcoin price continues to struggle to regain any type of bullish momentum, and keeps grinding at repeatedly tested support. In the past, when this happens, the support ultimately breaks down and a cascade of liquidations begin. However, there’s a bullish signal brewing that is thus far the best hope for further continuation to the upside. […]
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Bitcoin price this week blasted off from $30,000 to $40,000 in a 25% move. Although the momentum was provided by an epic short squeeze, the leading cryptocurrency by market cap could continue to run much higher if diagonal downtrend resistance is broken. The breakout would confirm what looks like a bump-and-run reversal bottom, which according to the authority in chart patterns, has the best bull market performance out of 39 other chart patterns. Could this be the signal that bulls have been waiting for to restart their charge? Bitcoin Bulls Could Be Ready To “Bump And Run”....
Bitcoin price is attempting its first major recovery since plunging below $20,000 per BTC during the recent crypto market contagion. A hidden bullish divergence could indicate that although the selloff was extreme, bulls have been lying in the wait and will soon begin to charge. Here is closer look at the potential bullish continuation signal on BTCUSD weekly price charts. Crypto Bulls Lie In Wait, Soon Could Be Ready To Charge Bitcoin became a household name in late 2017 after reaching nearly $20,000 per coin and sent the entire crypto market on a historical bull run. After a long bear....
When Bitcoin rallies, it historically has gone parabolic and blasted off to astronomical prices before each cycle peaks. Recently, rallies have been few and far between, cutting the price per coin down to around $33,000 at the local low. The plummet, however, fell short of tagging a “parabolic” indicator and it could mean that the local bottom is in. Here is more about the Parabolic SAR, the potential signal, and other supporting evidence that the bottom might already be in. Parabolic Uptrend Intact, Says Indicator With 95% Confidence Rate Bitcoin price has repeatedly gone....
Bitcoin price is clearly on the ropes, sending the market and its participants into a state of extreme fear. But much like a superhero donning their cape and hustling toward danger, an ultra-reliable bottom signal has returned to save the day. Here is a closer look at the signal that appeared twice at the crypto bear market bottom, again on Black Thursday, and once again today. Bitcoin Price: Bottoming Sequence Initiated? Markets, much like everything else in the universe, are cyclical in behavior. Cryptocurrencies go through cold winters, but when they thaw, they run hotter than ever....
Bitcoin price continued to rise yesterday scoring a high of $244. The pattern of the new bullish wave has been established as we explained during our yesterday's "intraday tips" article. By analyzing the 1 day Bitfinex (BTC/USD) charts and plotting the RSI and the 20 day EMA accordingly (look at the below chart), we can conclude the following: The current bullish trend can be viewed as a continuation of the bullish wave that started on the 15th of January, if we consider that the first bullish rally had been halted by a price correction wave that triggered sideways movements for a few....