According to This Indicator, Bitcoin (BTC) Bull Signal Seen!
Bitcoin and the mass cryptocurrency market are struggling to gain significant momentum. BTC pulled back from recent lows but remains in a slightly dangerous position as its price continues to trade sideways.
The direction of its next trend will largely depend on the stock markets that have a heavy impact on price action. Still, Bitcoin’s independent strength remains as most of the indicators on the chain are giving bullish signals. An analyst notes that the cryptocurrency has been able to make an incredibly bullish technical transition. He stated that this transition has a success rate of 80%, which could mean that a serious rise is imminent in the short term.
Bitcoin and the entire crypto market have been struggling to gain momentum in the past few days and weeks.This has caused both the bulls and the bears to be largely deadlocked as BTC consolidates around $ 11,400.Where it is heading in the near term may be largely due to the resilience response Bitcoin is facing around $ 11,600, as a continuing wave of trade below this level could be a reason for further decline.However, one analyst points out that Bitcoin was able to issue a significantly bullish technical transition, which seems to indicate that the bullish move is imminent.
Bitcoin Continues Consolidation As Correlation With The Stock Exchange Continues
At the time of writing, Bitcoin is trading at $ 11,467. This can be called the region where it has been traded for the past few weeks.