Bitcoin Marks 114 Weeks In Active Buy Signal On The SuperTrend Weekly, But Th...
Crypto analyst Tony Severino has provided an update on the Bitcoin price action. The flagship crypto is now eyeing a bullish reversal, but the analyst warned of how things could still go wrong for BTC and mark the end of the bull run. Bitcoin Marks 114 Weeks In Active Buy Signal In an X post, Severino revealed that Bitcoin is still in an active buy signal on the SuperTrend weekly. He added that BTC has been in this buy signal for 114 weeks and roughly 800 days. This is undoubtedly a huge positive for the flagship crypto, especially as it looks to reclaim the psychological $90,000 level....
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In the last few weeks, the sentiment around Bitcoin has turned around as bulls have pushed it past the $100,000 mark once again. Despite the recent drawdown, the BTC price is still bullish, with the market sentiment sitting in greed. However, a new development on the Bitcoin weekly chart could signal an end to the recent bullishness, just like it did back in 2022. Sell Signal From 2022 Reappears Back in 2022, large sell-offs triggered by the crash of the FTX crypto exchange brought an abrupt end to the Bitcoin bull market and plunged investors into months of despair as prices lagged.....
Bitcoin price is above $60,000 and bears are in disbelief. But they shouldn’t be, as bulls have long been in control of the trend. It had only been lower timeframes that had flipped bearish, while the most dominant trend had remained up. According to the Supertrend, all of the most important timeframes have since flipped bullish, with buy signals appearing across the board. Here is a closer look at what the tool says, the only remaining timeframe without a buy signal, and more information on what the Supertrend technical indicator does. What The Supertrend Says About The Bitcoin Bull....
Bitcoin price is back at $48,000 and with the most recent weekly close, momentum has flipped bullish for the very first time this year. With the momentum now behind bulls, what might this mean for the cryptocurrency market in the weeks and months ahead? The MACD And Bullish Weekly Bitcoin Momentum Markets are always seeking equilibrium. When a large move materializes, the same momentum that carried an asset upward, pulls it downward when the trend begins to topple. This makes momentum among the most important factors in determining if and when a trend might change. Related Reading |....
Bitcoin price is currently trading at around $23,500 at the time of this writing, up over 30% from lows and 10% for the week. The recovery has brought the weekly RSI out of oversold territory after reaching historical levels. Here is why the setup could be the buy signal bulls have been waiting for, and how the Relative Strength Index currently resembles the last bear market bottom. Weekly Bitcoin RSI Recovers From Historical Oversold Conditions In technical analysis, sometimes less is more. Traders commonly fill a chart with lines or indicators, desperately seeking an edge in the market.....
Bitcoin for the past two months has been closing consecutive weeks in the red. The previous week had seen it close its seventh consecutive weekly candle for the first time in history, and although investors hoped that this would end with a reversal, the digital asset has gone on to mark another week in the red. This makes it the first time ever for bitcoin to see eight consecutive weekly closes, causing major panic among crypto investors. Eight Weeks Red Not Bad? Normally when a large digital asset such as bitcoin is closing multiple weeks in the red, it points towards a massive bear....