07-20-2020, 12:13 PM
▪ Bitcoin is trading almost 12 percent below from its local top near $10,400, but a historically accurate technical indicator hints a trend reversal.
▪ The pattern formed on Monday as the short-term moving average of Bitcoin’s hash rate jumped over the long-term moving average, signaling the beginning of a buying setup.
▪ Its previous two formations over the last 12 months led the price higher by circa 45 percent.
▪ That roughly puts Bitcoin’s next upside target near $13,000 or beyond.
Bitcoin bulls may prefer to hold onto their long-term upside sentiment as the cryptocurrency paints a historically accurate bullish setup.
https://t.me/CryptoWorldAnalysis
▪ The pattern formed on Monday as the short-term moving average of Bitcoin’s hash rate jumped over the long-term moving average, signaling the beginning of a buying setup.
▪ Its previous two formations over the last 12 months led the price higher by circa 45 percent.
▪ That roughly puts Bitcoin’s next upside target near $13,000 or beyond.
Bitcoin bulls may prefer to hold onto their long-term upside sentiment as the cryptocurrency paints a historically accurate bullish setup.
https://t.me/CryptoWorldAnalysis