{"id":409141,"date":"2019-12-29T21:00:19","date_gmt":"2019-12-29T21:00:19","guid":{"rendered":"https:\/\/uniquehot.com\/?p=409141"},"modified":"2024-06-11T09:04:21","modified_gmt":"2024-06-11T09:04:21","slug":"three-indicators-suggesting-bitcoin-price-verge-bull-trend","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/three-indicators-suggesting-bitcoin-price-verge-bull-trend\/","title":{"rendered":"Four Signals Suggesting Bitcoin Price On Verge of Bull Trend"},"content":{"rendered":"<p>The past few months haven\u2019t been too kind to Bitcoin. Case in point, since peaking at $14,000 this June, the cryptocurrency has fallen by 50%, tumbling as low as $6,400 due to\u00a0<a href=\"https:\/\/uniquehot.com\/2019\/12\/18\/plustoken-scam-triggered-the-bitcoin-bear-trend-but-its-not-the-sole-factor\/\" data-wpel-link=\"internal\">selling pressure from PlusToken<\/a>\u00a0and weak hands.<\/p>\n<p>Despite this strong retracement, there is a confluence of technical factors that suggest the medium-term future is bright for Bitcoin. Here are a few, broken down by NewsBTC.<\/p>\n<h2>Number 1: Bitcoin Hash Ribbons Signal &#8220;Buy&#8221;<\/h2>\n<p>In November, the Hash Ribbons, an indicator tracking moving averages of Bitcoin\u2019s hash rate, saw a bearish crossover, resulting in an event known as \u201cminer capitulation.\u201dThe previous bearish crossover in the Hash Ribbons was last seen<a href=\"https:\/\/uniquehot.com\/2019\/11\/15\/bitcoin-fell-50-from-6000-in-2018-after-this-key-signal-lit-and-its-flashing-again\/\" data-wpel-link=\"internal\">\u00a0just before the now-infamous crash from $6,000 to $3,000 in late-2018.<\/a><\/p>\n<p>Though, \u00a0according to digital asset manager\u00a0<a href=\"https:\/\/twitter.com\/caprioleio\" target=\"_blank\" data-wpel-link=\"exclude\" rel=\"follow noopener noreferrer nofollow\">Charles Edwards<\/a>, who has popularized the Hash Ribbons and the talk around Bitcoin miner capitulation over recent months, a \u201cbuy\u201d is rapidly forming on the Hash Ribbons indicator just a few days after \u201crecovery\u201d was signaled.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">A Buy signal is forming on the Hash Ribbons indicator.<\/p>\n<p>\ud83d\udd2d <a href=\"https:\/\/t.co\/DBLkec46S4\" rel=\"nofollow\">pic.twitter.com\/DBLkec46S4<\/a><\/p>\n<p>&mdash; Charles Edwards (@caprioleio) <a href=\"https:\/\/twitter.com\/caprioleio\/status\/27507712?ref_src=twsrc%5Etfw\" rel=\"nofollow\">December 27, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>This is notable. Previous<a href=\"https:\/\/uniquehot.com\/2019\/12\/27\/key-bitcoin-signal-preceded-330-rally-14000-flashes-again\/\"> \u201cbuy\u201d signals by the Hash Ribbons c<\/a>ame shortly after macro bottoms, followed by fully-fledged bullish reversals. Case in point, the Hash Ribbons printed a \u201cbuy\u201d in the middle of January, months before BTC broke from $4,000 to $5,000, which created a domino effect pushing BTC to $14,000 by June, ending a 330% rally from the bottom.<\/p>\n<h2><strong>Number 2: Golden Cross<\/strong><\/h2>\n<p>Earlier this month, Bitcoin\u2019s long-term chart saw an extremely bullish sign from a macro perspective: the 50-week and 100-week simple moving averages saw a crossover, with the former crossing above the latter, signaling that bulls are in control of the long-term cryptocurrency trend.<\/p>\n<p>This was last seen in mid-2016, prior to the parabolic run-up that brought Bitcoin from $500 to nearly $20,000 in a few years\u2019 time.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We argue over short-term moves but big picture is clear\ud83d\udc40<br \/>Let&#39;s rock 2020\ud83d\udcb0<br \/>Who&#39;s with me? <a href=\"https:\/\/t.co\/SmbIu5CgFB\" rel=\"nofollow\">pic.twitter.com\/SmbIu5CgFB<\/a><\/p>\n<p>&mdash; Adrian Zdu\u0144czyk, CMT (@crypto_birb) <a href=\"https:\/\/twitter.com\/crypto_birb\/status\/88967173?ref_src=twsrc%5Etfw\" rel=\"nofollow\">December 23, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><strong>Number 3: Klinger<\/strong><\/h2>\n<p>According to a<a href=\"https:\/\/twitter.com\/Crypt0mer\/status\/40285696\" target=\"_blank\" data-wpel-link=\"exclude\" rel=\"follow noopener noreferrer nofollow\">\u00a0recent tweet<\/a> from full-time cryptocurrency trader Crypt0mer, Bitcoin\u2019s one week chart recently printed an extremely bullish signal: the one-week Klinger Oscillator, which tracks volume and price to determine trends, has printed a buy for the first time since February 2019, when BTC was trading around $3,700. He remarked that this is a sign that the bear correction is over.<\/p>\n<h2><strong>Number 4: &#8220;Massive&#8221; Bullish Divergence Between Bitcoin and Indicator<\/strong><\/h2>\n<p>Scott Melker, also known as the Wolf of All Streets, recently <a href=\"https:\/\/uniquehot.com\/2019\/12\/24\/bullish-bitcoin-price-signal-preceded-330-jump-flashes-again\/\" data-wpel-link=\"internal\">observed a positive sign on Bitcoin\u2019s weekly chart.<\/a> The sign is a \u201cmassive bullish divergence in oversold territory on Stochastic Relative Strength Index.\u201d<\/p>\n<pre>Featured Image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>The past few months haven\u2019t been too kind to Bitcoin. Case in point, since peaking at $14,000 this June, the cryptocurrency has fallen by 50%, tumbling as low as $6,400 due to\u00a0selling pressure from PlusToken\u00a0and weak hands. Despite this strong retracement, there is a confluence of technical factors that suggest the medium-term future is bright for Bitcoin. Here are a few, broken down by NewsBTC. Number 1: Bitcoin Hash Ribbons Signal &#8220;Buy&#8221; In November, the Hash Ribbons, an indicator tracking moving averages of Bitcoin\u2019s hash rate, saw a bearish crossover, resulting in an event known as \u201cminer capitulation.\u201dThe previous bearish crossover in the Hash Ribbons was last seen\u00a0just before the now-infamous crash from $6,000 to $3,000 in late-2018. Though, \u00a0according to digital asset manager\u00a0Charles Edwards, who has popularized the Hash Ribbons and the talk around Bitcoin miner capitulation over recent months, a \u201cbuy\u201d is rapidly forming on the Hash Ribbons indicator just a few days after \u201crecovery\u201d was signaled. A Buy signal is forming on the Hash Ribbons indicator. \ud83d\udd2d pic.twitter.com\/DBLkec46S4 &mdash; Charles Edwards (@caprioleio) December 27, 2019 This is notable. Previous \u201cbuy\u201d signals by the Hash Ribbons came shortly after macro bottoms, followed by fully-fledged bullish reversals. Case in point, the Hash Ribbons printed a \u201cbuy\u201d in the middle of January, months before BTC broke from $4,000 to $5,000, which created a domino effect pushing BTC to $14,000 by June, ending a 330% rally from the bottom. Number 2: Golden Cross Earlier this month, Bitcoin\u2019s long-term chart saw an extremely bullish sign from a macro perspective: the 50-week and 100-week simple moving averages saw a crossover, with the former crossing above the latter, signaling that bulls are in control of the long-term cryptocurrency trend. This was last seen in mid-2016, prior to the parabolic run-up that brought Bitcoin from $500 to nearly $20,000 in a few years\u2019 time. We argue over short-term moves but big picture is clear\ud83d\udc40Let&#39;s rock 2020\ud83d\udcb0Who&#39;s with me? pic.twitter.com\/SmbIu5CgFB &mdash; Adrian Zdu\u0144czyk, CMT (@crypto_birb) December 23, 2019 Number 3: Klinger According to a\u00a0recent tweet from full-time cryptocurrency trader Crypt0mer, Bitcoin\u2019s one week chart recently printed an extremely bullish signal: the one-week Klinger Oscillator, which tracks volume and price to determine trends, has printed a buy for the first time since February 2019, when BTC was trading around $3,700. He remarked that this is a sign that the bear correction is over. Number 4: &#8220;Massive&#8221; Bullish Divergence Between Bitcoin and Indicator Scott Melker, also known as the Wolf of All Streets, recently observed a positive sign on Bitcoin\u2019s weekly chart. The sign is a \u201cmassive bullish divergence in oversold territory on Stochastic Relative Strength Index.\u201d Featured Image from Shutterstock<\/p>\n","protected":false},"author":497,"featured_media":403428,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[166,428],"class_list":["post-409141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-analysis-2","tag-bitcoin"],"acf":[],"yoast_head":"\n<title>Four Signals Suggesting Bitcoin Price On Verge of Bull Trend<\/title>\n<meta name=\"description\" content=\"The past few months haven\u2019t been too kind to Bitcoin. 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