{"id":60170,"date":"2020-02-07T05:22:06","date_gmt":"2020-02-07T03:22:06","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=60170"},"modified":"2020-02-07T05:22:06","modified_gmt":"2020-02-07T03:22:06","slug":"bitcoin-prints-massive-buy-signal-suggesting-price-will-soon-retake-10000","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/bitcoin-prints-massive-buy-signal-suggesting-price-will-soon-retake-10000\/","title":{"rendered":"Bitcoin Prints Massive Buy Signal, Suggesting Price Will Soon Retake $10,000"},"content":{"rendered":"<p><a href=\"https:\/\/en.ethereumworldnews.com\/category\/news\/latest-bitcoin-btc-news\/\">Bitcoin<\/a> (BTC) has been on a near relentless rally over the past few weeks, bounding past key price points in the $7,000s, then $8,000s, then most recently in the $9,000s. The cryptocurrency, while already up 50% in the past 45 to 50 days, still has more upside, per some prominent analysts, citing a flurry of technical factors that suggest more upside is imminent.<\/p>\n<h2><strong>Bitcoin Prints Key Bullish Signal<\/strong><\/h2>\n<p>Bitcoin&#8217;s strong rally over the past few weeks have allowed the cryptocurrency to print a flurry of positive signals on its charts.<\/p>\n<p>Most recently, as<a href=\"https:\/\/www.tradingview.com\/chart\/BTCUSD\/OFSGZRKp-BITCOIN-Ichimoku-just-gave-a-strongest-BULL-SIGNAL-possible\/\" rel=\"noopener\"> pointed out by popular TradingView analyst TradingShot,<\/a> the Ichimoku Cloud \u2014 a multi-faceted indicator that lets analysts determine market trends and key price points \u2014 just gave the &#8220;strongest BULL SIGNAL possible&#8221; on the daily chart for Bitcoin.<\/p>\n<p>They wrote in the TradingView point that the last time the Cloud twisted bullish was in April 2019, which was prior to the over 200% rally that took Bitcoin from the $4,000s to $14,000 in a few months&#8217; time in a parabolic fashion.<\/p>\n<p>They added that with Bitcoin bouncing off the 1,000-day moving average in December 2019, that drop was likely the &#8220;bottom of the June correction,&#8221; noting that the prices around the moving average are a region where BTC classically bottomed in previous bear markets.<\/p>\n<p>TradingShot&#8217;s observation of a bullish Ichimoku cross isn&#8217;t the only thing that has traders excited for the prospects of Bitcoin in the coming months.<\/p>\n<p>Cryptocurrency trader Brent or Blockchainblitz\u00a0<a href=\"https:\/\/twitter.com\/blockchainblitz\/status\/1224896998173814787\" target=\"_blank\" rel=\"follow noopener noreferrer nofollow\" data-wpel-link=\"exclude\">recently noted<\/a>\u00a0that Bitcoin\u2019s daily chart just registered a key technical signal: the 50-day moving average just today crossed above the 100-day moving average, creating a bull cross formation.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Golden Cross on the 1D chart today for <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#Bitcoin<\/a><br \/>Historically speaking, from 2014, 7 times out of the 8 this happened, a rip upward followed.<a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">$BTC<\/a> <a href=\"https:\/\/t.co\/3kmvd4hemK\" rel=\"nofollow\">pic.twitter.com\/3kmvd4hemK<\/a><\/p>\n<p>&mdash; Brent (@blockchainblitz) <a href=\"https:\/\/twitter.com\/blockchainblitz\/status\/1224896998173814787?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">February 5, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>He notes that in the past eight times this technical signal was seen since 2014, a \u201crip upward followed.\u201d<\/p>\n<p>Indeed, our own analysis of this specific moving average cross found that this last took place when BTC was at $5,800 in early-2019, and preceded a 140% move higher. There are also the other historical instances Brent pointed to in his chart.<\/p>\n<p>This confluence suggests that more upside is likely, though it is important to note short-term pullbacks can be sustained by the market to make sure that Bitcoin is not overextended.<\/p>\n<pre>Featured Image from Unsplash<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) has been on a near relentless rally over the past few weeks, bounding past key price points in the $7,000s, then $8,000s, then most recently in the $9,000s. The cryptocurrency, while already up 50% in the past 45 to 50 days, still has more upside, per some prominent analysts, citing a flurry of technical factors that suggest more upside is imminent. Bitcoin Prints Key Bullish Signal Bitcoin&#8217;s strong rally over the past few weeks have allowed the cryptocurrency [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":58312,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[800],"tags":[188,6971,83,162,111],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/60170"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=60170"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/60170\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/58312"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=60170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=60170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=60170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}