• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
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
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • 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
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Breaking News: Breaking: Bitcoin Breaks Above $24,000 For The First Time In 2023
  • 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
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • 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
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: Bitcoin Breaks Above $24,000 For The First Time In 2023
Ethereum
Advertisement

This Indicator With an 80% Strike Rate Just Flashed a Bullish Sign for Bitcoin

Cole Petersen by Cole Petersen
2 years ago
in Bitcoin
0
Advertisement
  • Bitcoin and the aggregated crypto market have been struggling to gain any significant momentum
  • BTC has pushed off of its recent lows, however, it remains in a somewhat precarious position as its price continues trading sideways
  • Where it trends next will likely depend largely on the stock market, which has had intense influence over its price action
  • Still, its independent strength remains, as most on-chain indicators are flashing bullish signs
  • One analyst is now noting that the crypto was just able to post an incredibly bullish technical crossover
  • He notes that this crossover has an 80% success rate, which could mean a serious uptrend is imminent in the short-term

Bitcoin and the entire crypto market have been struggling to gain momentum over the past few days and weeks.

This has caused both bulls and bears to largely reach an impasse as BTC consolidates around $11,400.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

Where it trends in the near-term may depend largely on its reaction to the resistance it faces around $11,600, as a continued bout of trading beneath this level could open the gates for it to see further downside.

One analyst, however, is noting that Bitcoin was just able to post an ultra-bullish technical crossover, which seems to indicate that a move higher is just around the corner.

Bitcoin Continues Consolidating as Stock Market Correlation Persists 

At the time of writing, Bitcoin is trading up just under 1% at its current price of $11,450. This is around where it has been trading throughout the past couple of weeks.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

The lack of momentum seen by BTC as of late has come about due to a consolidation phase within the stock market.

All eyes are closely watching to see if a phase 2 stimulus package is released in the near-term. Investors are also awaiting the results of the election before jumping into positions.

This Indicator Suggests BTC is About to Make a Big Push Higher 

One trader recently explained that Bitcoin just posted a bullish TK cross above its cloud. He notes that this historically leads to a sharp upwards movement, with an 80% strike rate.

“Prior bullish TK recrosses with price above Cloud… you be the judge […] ill take the 80% hit rate.”

Bitcoin

Chart via Josh Olszewicz. Source: BTCUSD on TradingView.

If history rhymes, this pattern indicates that serious upside could be right around the corner for Bitcoin.

Featured image from Unsplash.
Charts from TradingView.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Bitcoin Mining

Bitcoin Mining Could Help Scale Solar Power, Report Reveals

17 mins ago
Bitcoin Inches Closer To $24K As Fed Bares ‘Disinflationary Process’

Bitcoin Inches Closer To $24K As Fed Bares ‘Disinflationary Process’

3 hours ago
Bitcoin US debt ceiling

Bitcoin Price Can Soar Above $25,000 Due To Debt Ceiling Debacle – Here’s How

6 hours ago
Bitcoin

Bitcoin Spot Volumes Remain Elevated Despite Price Stalling

1 day ago
Tesla

Bitcoin Crash: Tesla Suffers $140 Million BTC Loss, SEC Filing Shows

1 day ago
Bitcoin bull

Is $1 Million Possible For Bitcoin? Here’s What This Analyst Thinks

2 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • The Premier League Welcomes Ethereum and Big Eyes Coin...

    4 hours ago
  • Why $21 Million Strong Presale Big Eyes Coin Is Here To...

    4 hours ago
  • Aave (AAVE) And FTX Token (FTT) Remain Stable, Orbeon...

    9 hours ago
  • Elon Musk Wants McDonald’s to Accept Crypto Payments...

    10 hours ago
  • North Korea Hackers Strike Axie Infinity (AXS) &...

    10 hours 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
  • NAGA

Categories

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

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 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
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • 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
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC

© 2022 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.