Mo.bi - Crypto Currency Tracker logo Mo.bi - Crypto Currency Tracker logo
NewsBTC 2021-09-02 17:17:19

Five Bitcoin Price Charts That Suggest Bulls Have Little To Fear

Bitcoin price is back at $50,000 and until either support at $30,000 is broken to the downside or a new all-time high is set, the direction of the market won’t be as distinguishable. Fundamentally, the network continues to grow, and sentiment remains high surrounding the cryptocurrency space. Better yet for bulls, here are five outrageously bullish charts filled with technical signals that suggest that bulls have very little fear about what could come in the months ahead. Five Bitcoin Price Charts Supporting New ATHs Weekly RSI is holding in the bull zone | Source: BTCUSD on TradingView.com To begin with the easiest chart to read, we’ll present the weekly Relative Strength Index. The current leading cryptocurrency by market cap just reclaimed the de-facto line in the sand between a bull phase and bear phase. For those looking for evidence of a bear market, you won’t find it on the chart above. After the peak was put in December 2017, Bitcoin price immediately plummeted below the line to kickstart the most recent bear market. The weekly RSI is back holding above this line – which following the December 2013 peak was lost and a bear market began. Parabolic SAR and Elliott Wave support further upside | Source: BTCUSD on TradingView.com The weekly LMACD has also recently flipped bullish, but the comparisons to previous bull markets aren’t as immediate apparent. If anything, there are more similari...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.