The current candle sequence since February 6th is the longest in this bear market. Since the All Time Highs Bitcoin's strongest bullish sequence (Higher Lows) was 40 days in April/ May. The current sequence is 45 days and counting.
This is also evident on key technical indicators:
RSI: Current bullish streak above 40.000 = 45 days (longest since ATH).
CCI: Current bullish streak above -100.000 = 45 days (longest since ATH).
TSI: Current bullish streak above 0.000 = 35 days (longest since ATH).
Can this be a strong indication of bullish sustainability? It certainly is a sign of accumulation of buyers after the December bottom. This is a lengthy process and the longer the price trades above those levels, the stronger the foundation of the accumulation phase gets.
Read more on Bitcoin's cycle's and phases below:
** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
This is also evident on key technical indicators:
RSI: Current bullish streak above 40.000 = 45 days (longest since ATH).
CCI: Current bullish streak above -100.000 = 45 days (longest since ATH).
TSI: Current bullish streak above 0.000 = 35 days (longest since ATH).
Can this be a strong indication of bullish sustainability? It certainly is a sign of accumulation of buyers after the December bottom. This is a lengthy process and the longer the price trades above those levels, the stronger the foundation of the accumulation phase gets.
Read more on Bitcoin's cycle's and phases below:
** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.