Here’s What You Might Have Missed on Bitcoin’s Technical Signals

By Steven Anderson January 8, 2020 Off
Bitcoin Technical Signals

People, who are continuously paying attention to Bitcoin, understand that it has been suffering on an absolute tear throughout the recent several days. On one day, it surges by twenty percent from the 6,900 dollars low put within last week. One will find various technical indications published, suggesting that bulls are in full control.

What Every Analyst is Talking About

There is no doubt that the chart of Bitcoin is showcasing bullish technical signals, as many analysts proved true to that. In fact, the famous crypto analyst BTCKyle took on Twitter proof of this situation. The analyst noted that the weekly chart of BTC has shown a bullish Parabolic Stop and Reverse candle for the very first time after the 14,000 dollars candle in June 2018.

In case you didn’t know yet, the Parabolic Stop and Reverse is a famous indicator utilized by traders to understand the upcoming short-term momentum of a particular asset. This is undoubtedly a good indication for bulls must it close positive, even though the SAR has not yet confirmed.

Another self-taught trader and analyst at Brave New Coin, Josh Olszewicz, conveyed that CoinBase is currently trading at a trivial premium against iFinex Inc.’s Bitfinex. Well, that’s supposedly a bullish indicator, which underscored much of the rally perceived last year.

But wait, there’s more to that. The New Analyst of Adaptive Capital CL also mentioned the four-chart of the Bitcoin. The analyst explained that the chart is highlighting apparent indicators of a reversal on a medium-term base. CL particularly took into account the indicator of Bollinger Bands. Further, he claimed that it highlighted a bullish trend.

The Powerful Trend Everyone Has Seen

Did you know that each of the mentioned signals has been highlighted by the positive fundamental trend the crypto world has perceived? In fact, there was another bullish factor, which tends to help Bitcoin according to the recent reports. Surprisingly, it was the geopolitical and macroeconomic environment. You might start thinking again, especially after the news broke the internet that the General Qassem Soleimani of Iran was killed in an airstrike in Baghdad. Who would’ve thought it was also planned by the US President?

The current situation in Iran is considered bullish for gold and Bitcoin. Well, that perception is based on the tweet of the former Goldman Saches partner and present CEO of Galaxy Digital, Mike Novogratz.

Apart from that, the capitalist took time to elaborate through thoughtful and strategic writing the things he will anticipate on the geopolitical scale in the future weeks. In accordance to his statement, he said that Iran would start to oust the groups from America.

Novogratz also foresees that Iran would have more power in Iraq, as per what they truly plan. Not to mention that the Saudis do not like any form of battles. With that in mind, the Middle East will turn out to be less established. In turn, that will prove more volatility in the global markets.