• Contact Us
  • Privacy Policy
Wednesday, January 20, 2021
CRYPTO NEWS TIPS
No Result
View All Result
  • Home
  • Latest News
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
    • Litecoin
    • Altcoin
  • Live Cryptocurrency Prices
  • Analysis
  • Blockchain
  • Regulation
  • Trading
  • Home
  • Latest News
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
    • Litecoin
    • Altcoin
  • Live Cryptocurrency Prices
  • Analysis
  • Blockchain
  • Regulation
  • Trading
No Result
View All Result
CRYPTO NEWS TIPS
No Result
View All Result
Home Bitcoin

This Indicator With an 80% Strike Rate Just Flashed a Bullish Sign for Bitcoin

Crypto News Tips by Crypto News Tips
October 18, 2020
in Bitcoin
0
This Indicator With an 80% Strike Rate Just Flashed a Bullish Sign for Bitcoin


  • Bitcoin and the aggregated crypto market have been struggling to gain any significant momentum
  • BTC has pushed off of its recent lows, however, it remains in a somewhat precarious position as its price continues trading sideways
  • Where it trends next will likely depend largely on the stock market, which has had intense influence over its price action
  • Still, its independent strength remains, as most on-chain indicators are flashing bullish signs
  • One analyst is now noting that the crypto was just able to post an incredibly bullish technical crossover
  • He notes that this crossover has an 80% success rate, which could mean a serious uptrend is imminent in the short-term

Bitcoin and the entire crypto market have been struggling to gain momentum over the past few days and weeks.

This has caused both bulls and bears to largely reach an impasse as BTC consolidates around $11,400.

Where it trends in the near-term may depend largely on its reaction to the resistance it faces around $11,600, as a continued bout of trading beneath this level could open the gates for it to see further downside.

One analyst, however, is noting that Bitcoin was just able to post an ultra-bullish technical crossover, which seems to indicate that a move higher is just around the corner.

Bitcoin Continues Consolidating as Stock Market Correlation Persists 

At the time of writing, Bitcoin is trading up just under 1% at its current price of $11,450. This is around where it has been trading throughout the past couple of weeks.

The lack of momentum seen by BTC as of late has come about due to a consolidation phase within the stock market.

All eyes are closely watching to see if a phase 2 stimulus package is released in the near-term. Investors are also awaiting the results of the election before jumping into positions.

This Indicator Suggests BTC is About to Make a Big Push Higher 

One trader recently explained that Bitcoin just posted a bullish TK cross above its cloud. He notes that this historically leads to a sharp upwards movement, with an 80% strike rate.

“Prior bullish TK recrosses with price above Cloud… you be the judge […] ill take the 80% hit rate.”

Chart via Josh Olszewicz. Source: BTCUSD on TradingView.

If history rhymes, this pattern indicates that serious upside could be right around the corner for Bitcoin.

Featured image from Unsplash.
Charts from TradingView.


Credit: Source link

Share234Tweet146
Crypto News Tips

Crypto News Tips

Related Posts

Bitcoin’s Short-Term Outlook is Dangerous for Bulls; Here’s Why
Bitcoin

Bitcoin Plunges as Bears Roar, But Here’s Why Analysts Aren’t Too Concerned

January 20, 2021
Bitcoin Forms Ideal Market Pivot as Bulls Trap Sellers; What Comes Next
Bitcoin

Bitcoin is on the Brink of Seeing a Rally to All-Time Highs as It Taps Critical Level

January 19, 2021
Bitcoin Weekly Outlook: Price Hangs b/w Dovish Yellen and Rising Yields
Bitcoin

Bitcoin Weekly Outlook: Price Hangs b/w Dovish Yellen and Rising Yields

January 19, 2021
Bitcoin Funding Rates Soar as Consolidation Persists; Long-Squeeze Imminent?
Bitcoin

Bitcoin Funding Rates Soar as Consolidation Persists; Long-Squeeze Imminent?

January 18, 2021
The Three Factors That Could Topple The Recent Bitcoin Rally
Bitcoin

The Three Factors That Could Topple The Recent Bitcoin Rally

January 18, 2021
Data Suggests Whales are Keen on Protecting One Key Bitcoin Support Level
Bitcoin

Data Suggests Whales are Keen on Protecting One Key Bitcoin Support Level

January 17, 2021
Load More
Next Post
Mining Profitability Drops as Bitcoin’s Hash Rate Hits New All-Time High

Mining Profitability Drops as Bitcoin’s Hash Rate Hits New All-Time High

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Crypto Weekly Round-Up, August 24 2020: Litecoin plays catch-up as Bitcoin stalls

Crypto Weekly Round-Up, August 24 2020: Litecoin plays catch-up as Bitcoin stalls

August 24, 2020
Bitcoin Edges Lower After Trump Rejects COVID-19 Stimulus Package

Bitcoin Edges Lower After Trump Rejects COVID-19 Stimulus Package

December 23, 2020

Don't miss it

Crypto.com Predicts Bitcoin & Ethereum Trends for 2021
Analysis

Crypto.com Predicts Bitcoin & Ethereum Trends for 2021

January 20, 2021
Bitcoin Whale Moves $1.1 Billion in BTC for Less Than $4
Regulation

Bitcoin Whale Population Hits New High After Adding $6 Billion so Far This Year

January 20, 2021
Bitcoin’s Short-Term Outlook is Dangerous for Bulls; Here’s Why
Bitcoin

Bitcoin Plunges as Bears Roar, But Here’s Why Analysts Aren’t Too Concerned

January 20, 2021
Analysis

Fundstrat Strategist Posts $10,500 Ethereum Target for 2021

January 20, 2021
Ethereum Close to All-Time High as Google Searches for It Hit New Record
Regulation

Ethereum’s Price Could Surge to $10,500, Says Fundstrat Strategist

January 20, 2021
Crypto News

How crypto traders are gaining by holding crypto

January 20, 2021
  • Contact Us
  • Privacy Policy
Call us: +1 234 JEG THEME

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • Latest News
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
    • Litecoin
    • Altcoin
  • Live Cryptocurrency Prices
  • Analysis
  • Blockchain
  • Regulation
  • Trading

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.