{"id":402521,"date":"2019-10-27T18:00:50","date_gmt":"2019-10-27T18:00:50","guid":{"rendered":"https:\/\/ktsl888.com\/?p=402521"},"modified":"2024-06-11T13:31:33","modified_gmt":"2024-06-11T13:31:33","slug":"bitcoin-chart-bullish-rally-10600-possible","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-chart-bullish-rally-10600-possible\/","title":{"rendered":"Bitcoin Chart is “Bullish as it Gets,” Rally to $10,600 Possible"},"content":{"rendered":"

Bitcoin (BTC) bulls have managed to retake control over Sunday’s trading session. As of the time of writing this article, the leading cryptocurrency is trading at $9,750 \u2014 around $800 higher than Saturday’s local low of $8,900<\/a>, which itself represents a 10% swing upward.<\/p>\n

Related Reading: Analyst Lays Out Reasons Why Bitcoin Price Isn\u2019t Decisively Bullish Yet<\/a><\/h6>\n

This latest leg upward is rapidly convincing analysts that a surge past the local top of $10,500<\/a> is becoming possible.<\/p>\n

Bitcoin Holds Key Level, Ready to Head Higher<\/strong><\/h2>\n

Trader Byzantine General recently noted<\/a> that Bitcoin’s chart is shaping up to be even more bullish than it was yesterday. Following Saturday’s strong close in the $9,300 region, the analyst remarked that as the Kijun line of the Ichimoku Cloud held, he believes that “the chart is as bullish as it gets.”<\/p>\n

As such, he is expecting for BTC to hit at least $10,600, just under 10% higher than the current price, in the coming days.<\/p>\n

https:\/\/twitter.com\/ByzGeneral\/status\/70773250<\/p>\n

Not Off the Table<\/strong><\/h2>\n

There is a confluence of technical factors that back the idea that Bitcoin will continue to rocket higher into next week.<\/p>\n

As\u00a0reported by NewsBTC on Saturday,<\/a>\u00a0CryptoHamster recently observed that Bitcoin is still looking bullish on higher time frames. They recently posted the chart below, which shows that Bitcoin\u2019s current one-week Heikin-Ashi candle has two tall wicks on either side and a skinny green body. For those not versed in technical analysis, this implies a \u201cpotential trend reversal.\u201d<\/p>\n

That\u2019s not all. The same analyst later noted that the weekly Fisher Transform indicator, which highlights when prices have moved to an extreme to try and signal buying and selling opportunities, has recently printed a bullish crossover at the -2.5 level. CryptoHamster notes that \u201cthis signal is rarely false,\u201d and thus strongly implies a resumption of Bitcoin price\u2019s long-term uptrend.<\/p>\n

\n

Weekly Fisher transform indicator made a bullish crossover at the level -2.5!
This signal is rarely false (still happened before though).$BTC<\/a> $BTCUSD<\/a> #bitcoin<\/a> pic.twitter.com\/kRpLM0MlbB<\/a><\/p>\n

— CryptoHamster (@CryptoHamsterIO) October 27, 2019<\/a><\/p><\/blockquote>\n