Bitcoin

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.

https://twitter.com/TechDev_52/status/1471261765489074176?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener
“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.

https://twitter.com/VailshireCap/status/1470849844612763649?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener
“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. “

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page

CoinX

Recent Posts

Cosmos Developer Interchain Foundation Sold 3000 ETH Today

Cosmos Developer Interchain Foundation sold 3000 ETH from its ICO today, totaling 21,600 ETH sold…

19 minutes ago

Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance

George Town, Grand Cayman, 22nd November 2024, Chainwire

39 minutes ago

Inflation Warning By Vanguard Amid Tariffs And Labor Issues

Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…

55 minutes ago

Clanker Token Trading Volume Hits $59.8 Million High On November 21

Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…

1 hour ago

Bitcoin Spot ETF Inflows Hit $1 Billion Led By BlackRock

Bitcoin Spot ETF inflows hit $1.005B on Nov 21, led by BlackRock’s $608M and Fidelity’s…

2 hours ago

New York Techie Bagged $72M from $15K Investment in Ethereum — Here’s How BlockDAG Can Offer Similar Jackpot

Discover the success story of a New York tech entrepreneur who made $72M from a…

2 hours ago

This website uses cookies.