{"id":377207,"date":"2019-04-04T22:00:45","date_gmt":"2019-04-04T22:00:45","guid":{"rendered":"https:\/\/ktsl888.com\/?p=377207"},"modified":"2024-06-11T07:38:51","modified_gmt":"2024-06-11T07:38:51","slug":"technical-indicator-signals-that-bitcoin-btc-is-ready-to-surge-nearly-200","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/technical-indicator-signals-that-bitcoin-btc-is-ready-to-surge-nearly-200\/","title":{"rendered":"Technical Indicator Signals That Bitcoin (BTC) is Ready to Surge Nearly 200%"},"content":{"rendered":"

Following the recent bullish momentum experienced by the entire cryptocurrency markets that was driven by bullish Bitcoin (BTC) price action, the markets have now experienced a somewhat minor pullback that has led most cryptos to drop.<\/p>\n

Although the markets are currently taking a breather, one widely used indicator may signal that Bitcoin is ready to surge nearly 200%, which, if true, would decisively mark the end of the persisting bear market, and would send the cryptocurrency back towards its 2017 highs.<\/p>\n

Bitcoin Stable Around $5,000 After Dropping Yesterday<\/strong><\/h2>\n
At the time of writing, Bitcoin<\/a> is trading down nearly 1% at its current price of $5,010 and is down from its recent highs of $5,300. Although BTC\u2019s recent drop did put a wet blanket over the incredibly bullish sentiment that came about after Bitcoin\u2019s recent price rise, it is important to note that it is still up significantly from its weekly lows of roughly $4,000.<\/p>\n
The recent upwards price surge allowed Bitcoin to break above multiple key resistance levels that BTC had struggled to break above on multiple occasions over the past several months.<\/p>\n
Another key technical level that the cryptocurrency broke above during its recent price climb was its upper Bollinger Band \u2013 which had not been broken above since the bear market first began.<\/p>\n
CryptoHamster, a popular cryptocurrency analyst on Twitter, spoke about this latest revelation in a recent tweet, noting in his chart that a similar break above the upper BB occurred in 2015, which was proceeded by a correction towards the lower BB before it began an upwards ascent.<\/p>\n
\u201cBitcoin made it for the first time during the whole bear market. Prepare for a possible correction and then be ready to take off,\u201d he noted.<\/p><\/blockquote>\n
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Bitcoin made it for the first time during the whole bear market.
Prepare for a possible correction and then be ready to take off!
\ud83d\udd25\ud83d\udd25\ud83d\udd25 $BTC<\/a> #bitcoin<\/a> pic.twitter.com\/8iG8wODE2P<\/a><\/p>\n
— CryptoHamster (@CryptoHamsterIO) April 4, 2019<\/a><\/p><\/blockquote>\n