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This Historically Accurate Signal Suggests a Bitcoin Rally to $13K in Q3

▪ 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.