BITCOIN TRADING INDICATOR PRINTS LONG SIGNALING BIG RALLY AHEAD

Posted 03 February, 2020

BITCOIN CLOSES ON FIVE FIGURES

 

Over the weekend, BTC kept in its accounts over $ 9,000, and a few hours ago it raised to $ 9,600. According to Tradingview.com, this move is marked with the highest price in three months.

 

 

bitcoin

Chart - Tradingview.com

 

During the day, a golden cross formed, indicating a change in the long-term trend. The 50-day moving average is now above the 200-day moving average. The last time this happened in 2019. April is followed by 200 percent.

Such a rally today can reduce the price of bitcoin to $ 28,000, halving the time, which now is only three months.

Analyst and trader Josh Rager noticed another technical indicator, which also has a long flash for the first time in almost a year. The trend of Blackroots Alpha turned green again, Rager is one of the founders of cryptocurrencies.

 

“The last two times “long” signaled:
– Sept ’16 prior to the Bitcoin ATH
– March 26, days before the $1000 candle and run to $13ks”

- Josh Rager posted in his twitter account.

 

View image on Twitter

 

 

When he was asked about Open Interest on BitMEX Rager added:

“I’m not too worried about it, I think we will see pullback, that’s a given so it just depends on leverage, smart trading such as 2x to 3x won’t get anyone liquidated but many of these people are shooting for the moon,”

 

OI has now hit $1 billion on BitMEX which usually results in a correction. Traders appear to be starting to exercise caution now and taking some profit off the table.

 

 

ELSEWHERE ON CRYPTO MARKETS

 

Total market capitalization currently stands at just over $ 260 billion, the highest figure in four months. Bitcoin dominance fell slightly to 66.5%, which is good news for altcoins.

Ethereum had a great weekend: up to $ 190 in the last 24 hours and 5% profit. Since ETH is so far from record highs, it is currently more attractive and likely to increase in the coming months.

XRP Ripple also showed a rare rate of up to $ 0.25, while EOS and Ethereum Classic rose 5% per day. Tezos is currently one of the most successful performers with a 12% profit margin of up to $ 1.90.

Previous story

04 February, 2020 12:16

← WHY STABLECOINS ARE A BIG REASON TO BE BULLISH ON ETHEREUM

Ethereum is the world’s dominant network for stablecoins and it is still growing. However, with more transactional value taken up by them than ETH itself, is this such a good thing?

WHY STABLECOINS ARE A BIG REASON TO BE BULLISH ON ETHEREUM

Next story

30 January, 2020 12:47

CRYPTO FRIENDLY US PRESIDENTIAL CANDIDATE CALLS FOR CLARITY ON RULES →

US Democratic presidential candidate Andrew Yang has called for more clarity with regards to crypto currency regulation as the country slips further behind in the rapidly expanding industry.

CRYPTO FRIENDLY US PRESIDENTIAL CANDIDATE CALLS FOR CLARITY ON RULES
Write a comment
 
Prove you’re not a bot + 14 = 32