The Last Time Bitcoin Saw This Buying Signal It Surged 80%

  • At the time of publishing the key cryptocurrency was trading at 11,400 USD.
  • Many believe that this could just be a bear market rebound that will end up with a reversion back to the lows.
  • A vital technical indicator implies that this is not the case and in fact is a real breakout.
  • It shows that if BTC goes above 11,500 USD soon, it will form a buy signal of major importance.
  • The last time we saw this buy signal was in April. Following this, we saw an 80% rally seeing BTC go from 7,000 to 12,500 USD in a matter of months.

Is BTC on the Verge of a Rally?

BTC may be on the surge of a rally taking it even higher if it is able to retake 11,500 USD over the next few months.

Chart created using https://www.tradingview.com/

Fundamental Patterns Agree.

The fundamental patterns agree with the positive indicated by the chart above.

Chart created using https://glassnode.com/

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store