Bitcoin price indicator that marked 2015 and 2018 bottoms is flashing
This week, Bitcoin's 150-day EMA is set to close below its 471-day EMA for only the third time in history. Bitcoin (BTC) could undergo a massive price recovery in the coming months, based on an indicator that marked the 2015 and 2018 bear market bottoms.What's the Bitcoin Pi Cycle bottom indicator? Dubbed "Pi Cycle bottom," the indicator comprises a 471-day simple moving average (SMA) and a 150-period exponential moving average (EMA). Furthermore, the 471-day SMA is multiplied by 0.745; the outcome is pitted against the 150-day EMA to predict the underlying market's bottom.Notably, each....
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A quant has explained how the Bitcoin funding rate (72 hour) may be able to correctly signal tops and bottoms in the price of the crypto. Bitcoin Funding Rate May Be Able To Indicate Tops And Bottoms In The Market As explained by an analyst in a CryptoQuant post, the 72-hour version of the funding rate looks to have been effective at pointing out tops and bottoms in the BTC market. The “funding rate” is the periodic payment that Bitcoin futures traders (either long or short) have to make between each other. When the value of this metric is negative, it means shorts are paying a....
As discussed in yesterday's analysis titled Rebound Likely, Bitcoin has surged to $262.68 after hitting a high of $265.95. The big question now is: Has the selling abated? As can be seen from the 240-minute BTC/USD price chart, Bitcoin has hit a key resistance level of $265, marked as Resistance Line 1. A breakout above this line will set the next target at the Resistance Line 2, i.e. at $280. Now, let's get to what the technical indicators are saying. Moving Average Convergence Divergence - The MACD indicator value of -6.8775 is languishing near yesterday's lows. The Signal Line has also....
Knowing how to spot market reversals and when to buy the dip is nearly impossible, but the RSI indicator can help. When an asset enters a bear phase and the headlines are negative, analysts project further downside, and the sentiment shifts from optimism to pure gloom and doom. This results in panic gripped traders dumping their positions near the bottom of the downtrend instead of buying. How can traders go against the herd and build the courage to buy in a bear market? It is not easy because if they purchase too early, the position may quickly turn into a loss. However, if they wait for....
In this episode of NewsBTC’s daily technical analysis videos, we are looking at the total cryptocurrency market cap with Bitcoin being so boring. We also compare past crypto winters to see when the deep freeze might end. Take a look at the video below: VIDEO: Total Crypto Market Cap Analysis (TOTAL): October 12, 2022 There isn’t all that much new to report. Bitcoin and other cryptocurrencies continue to move mostly sideways, as the market awaits the CPI data release tomorrow at 8:30AM ET. Related Reading: The End of Bitcoin Woes? BTCUSD Analysis October 11, 2022 Why Crypto Winter....
The bearish warnings start flashing after Bitcoin pursued a relentless upside rally wherein its price jumped by almost 150 percent from its September nadir.