{"id":380505,"date":"2019-05-02T00:00:27","date_gmt":"2019-05-02T00:00:27","guid":{"rendered":"https:\/\/uniquehot.com\/?p=380505"},"modified":"2024-06-11T07:40:00","modified_gmt":"2024-06-11T07:40:00","slug":"analyst-bitcoins-bullish-monthly-close-may-signal-that-parabolic-run-is-imminent","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/analyst-bitcoins-bullish-monthly-close-may-signal-that-parabolic-run-is-imminent\/","title":{"rendered":"Analyst: Bitcoin\u2019s Bullish Monthly Close May Signal That Parabolic Run is Imminent"},"content":{"rendered":"
April has proven to be a very positive month for the crypto markets, and Bitcoin\u2019s ability to decisively surge into the $5,000 region without incurring any significant selling pressure has shifted the overall market sentiment to be slightly more bullish as many analysts expect BTC to see further gains in the near-future.<\/p>\n
One prominent analyst is now pointing out similarities between Bitcoin\u2019s April monthly close and that seen in October of 2015, which was followed by a massive bull run.<\/p>\n
At the time of writing Bitcoin is trading up just under 1% at its current price of $5,375. Over a one-week period, Bitcoin has recovered<\/a> from its lows of $5,100 that were set after news broke regarding the fiasco surrounding the New York Attorney General\u2019s accusations that Tether and Bitfinex were defrauding investors.<\/p>\n In previous years, news like this was ground for significant drops, but Bitcoin only shed a mere 10% after the news grew widespread, and it has since recovered much of its losses as it continues climbing back towards its recent highs of over $5,600.<\/p>\n Furthermore, in addition to appearing to have growing strength from a fundamental perspective, Bitcoin also posted a green monthly candle that many analysts view as being bullish.<\/p>\n DonAlt, a popular cryptocurrency analyst on Twitter, spoke about BTC\u2019s monthly close in a recent tweet, explaining that his larger time-frame bias is currently bullish.<\/p>\n \u201c$BTC monthly: This is the first time in ages that BTC has broken resistance & closed above it. We’ve finally got support below us that might actually hold, turning my big timeframe bias bullish. I’ll stick with swing longs until that support fails. Buys in green would be juicy,\u201d he said while referencing a BTC monthly candle chart.<\/p><\/blockquote>\n $BTC<\/a> monthly:<\/p>\n This is the first time in ages that BTC has broken resistance & closed above it.<\/p>\n We've finally got support below us that might actually hold, turning my big timeframe bias bullish. — DonAlt (@CryptoDonAlt) May 1, 2019<\/a><\/p><\/blockquote>\n\n
I'll stick with swing longs until that support fails.
Buys in green would be juicy. pic.twitter.com\/zczGMjmIhY<\/a><\/p>\n