• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
bitcoin price indicator turned green

Bitcoin Technical Indicator Flashes ‘Buy’ as Uptrend Strengthens

Martin Young
by Martin Young
6 years ago
·
Posted in Bitcoin Price, Markets and Prices
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A key Bitcoin price technical indicator has turned green again following almost a month of declines. The rally which started a week ago has gained momentum despite a minor pullback below $12,000 yesterday.


Bitcoin Trend Indicator Goes Green

According to Bloomberg there has been a lot of attention turned towards bitcoin recently as a refuge in times of economic turmoil. The outlet added that a key trend indicator called the GTI VERA Convergence Divergence Indicator is now showing a buy signal.

Based on trading over the past few days, this lagging indicator is back in the green as BTC holds on to gains made since the weekend. This time last week the world’s leading digital asset was trading at around $9,750. Since then it has made an impressive 20% to its current price around $11,650.

Bloomberg intelligence analyst, Mike McGlone, said that the tide is rising for bitcoin compared to other risk assets, adding;

“Bitcoin should remain a primary beneficiary of growing demand for its store-of-value, quasi-currency asset properties, similar to gold. Favorable macroeconomic fundamentals – plunging bond yields and rising stock-market volatility – appear to have endurance and should further differentiate Bitcoin from other crypto assets.”

Akbar Thobhani, chief executive officer of crypto prime dealer SFOX Inc, added that bitcoin could regain its role as a safe haven as it

“seems to uniquely enjoy a status as a store of value, similar to gold, which may explain why it is building positive momentum amid the 10% tariff announcements,”

The China Effect

Many, such as gold investor Peter Schiff, have refuted China’s role in bitcoin price action this week but the charts speak for themselves. Trader and analyst Luke Martin as overlaid charts for bitcoin and the USD/CNH and they are uncannily similar.

“These two charts have looked identical since the beginning of August. Moves higher happening at nearly the same time. Local top at the same time. Same pattern as well.”

$BTC on top$USDCNH on bottom

These two charts have looked identical since the beginning of August.

Moves higher happening at nearly the same time. Local top at the same time. Same pattern as well. pic.twitter.com/kOGdDVjpPi

— Luke Martin (@VentureCoinist) August 7, 2019

He added that he would turn bullish again if BTC started trading above $11.8k. This price range is at the top end of a range-bound channel that is starting to form. The lower support zone is around $11.2k so a drop-through that could see prices back in the $10k zone pretty quickly.

A golden cross which has just formed on the four-hour chart could also signify further gains. This traditionally lagging technical indicator also points to a trend reversal. The two moving averages are getting further apart on the daily chart which adds to the bullish sentiment.

Will bitcoin price resume its upside momentum today? Add your thoughts below


Images via Bitcoinist Image Library, Twitter: @VentureCoinist

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Martin Young

Martin Young

Follow

Martin has been writing on technology for 15 years, he has a keen eye for emerging cryptocurrency news, blockchain developments, and market sentiment.

Full Profile

Related Posts

Dywidenda MicroStrategy 140 mln USD

Dywidenda MicroStrategy. Spółka wypłaciła inwestorom 140 mln USD!

8 hours ago
Spółka ALT5 Sigma inwestuje w token WLFI

Token WLFI w aktywach spółki ALT5 Sigma. Fintech stawia na kryptowalutę powiązaną z ideą MAGA

1 day ago
Nové bitcoin ATH október 2025

Cena Bitcoinu nad 125 000: BTC dosiahol cez víkend nové historické maximum

4 days ago
Bitcoin vyskočil nad 120 000 $. Odštartoval vládny shutdown v USA nové kryptomenové rally?

Bitcoin vyskočil nad 120 000 $. Odštartoval vládny shutdown v USA nové kryptomenové rally?

1 week ago
Ulga podatkowa MicroStrategy

Ulga podatkowa MicroStrategy. Co oznacza dla spółki i rynku krypto?

3 days ago
Debiut OranjeBTC – nowy gracz na rynku krypto w Brazylii

Debiut OranjeBTC – nowy gracz na rynku krypto w Brazylii

1 week ago
Please login to join discussion

Premium Sponsors

Press Releases

  • BNB

    ChatGPT предвижда BNB да достигне $2,500...

    16 hours ago
  • Maxi Doge นักสู้เหรียญมีมยืนโพสท่าในสังเวียนมวย

    Binance-Peg DOGE นำโด่ง Top 11...

    2 days ago
  • Find Out Why Whales are Rushing to Buy Bitcoin Hyper’s $22M Presale—Plus, Our $HYPER Price Prediction.

    Find Out Why Whales are Rushing to Buy Bitcoin Hyper’s...

    2 days ago
  • ...

    3 days ago
  • Your Chance to Win Up to 10% Deposit Bonus and Up to 21K $USDT Bonus Prizes at KCEX

    Your Chance to Win Up to 10% Deposit Bonus and Up to 21K...

    3 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.