FilbFilb indicates 21 bullish Bitcoin triggers while only 4 bearish signals
Bitcoin traders may be “panic”, but one analyst argues that all technical indicators are pointing up.
In his December 16 speech, co-founder filbfilb of the Decentrader trading platform listed more than 20 signs that point to further upward momentum for Bitcoin.
“More than enough” for Bitcoin Breakout
BTC rebounded alongside stocks late Wednesday thanks to political comments from the Federal Reserve (Fed).
After making an intraday high of $ 49,300, the pair began consolidating below the $ 49,000 mark. At the time of writing, the price is slightly higher at $ 49,129.
Cryptocurrency Fear and Greed Index | Source: alternative.me
However, sentiment does not yet show any confidence in the near-term future of BTC price action as the crypto fear and greed index is only at 29/100 – something Filbfilb believes has a positive effect.
The attached list has 21 bullish triggers such as seller exhaustion, miners accumulation and on-chain indicators.
On the downside, on the downside, there are only 4 factors that signal this: Loss of the 20-week moving average (MA), the 50- and 100-day MA, bearish signals on the 3-day and weekly Charts. hideous “.
1-Day BTC Price Candlestick Chart and 50-, 100-, and 140-Day Moving Averages | Source: TradingView
Stoch RSI shows a rare soil structure
Others in the room seem to share the same view. In particular, the popular TechDev Twitter account highlights several other factors that support the upcoming bull run.
#BTC 3 day hidden bull div which I think is ready to play out with an RSI just over 40, an imminent stab RSI cross, all after a previous bear div marked local distribution high. pic.twitter.com/warqTBc27d
– TechDev (@ TechDev_52) December 15, 2021
“In my opinion, BTC’s hidden bullish divergence is ready with an RSI just above 40, a crossover Stoch RSI imminent, all follow the locally distributed top pattern that was characterized by the previous bear divergence. “
The Stochastic Relative Strength Index (Stochastic RSI) has proven to be the bull flag at local lows throughout Bitcoin’s history.
For Jeff Ross, founder and operator of Vailshire Capital Management, the RSI is currently a watchable chart.
What I’m watching …
Check out the last four stochastic RSI (14) lows since late 2019 on the weekly #bitcoin Diagram.
We’re at or near # 5.
Shoot your shot. pic.twitter.com/l96rASOWXq
– DR. Jeff Ross (Pleb Advisor) (@VailshireCap) December 14, 2021
“What I’m watching … Look at the last 4 Stoch RSI (14) lows since late 2019 on the Bitcoin weekly chart.” We are on or near the fifth floor. “
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