{"id":413511,"date":"2020-02-05T09:09:29","date_gmt":"2020-02-05T09:09:29","guid":{"rendered":"https:\/\/ktsl888.com\/?p=413511"},"modified":"2024-06-11T13:41:30","modified_gmt":"2024-06-11T13:41:30","slug":"bitcoin-jumped-140-percent-key-technical-signal-back-again","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-jumped-140-percent-key-technical-signal-back-again\/","title":{"rendered":"Bitcoin Jumped 140% Last Time it Registered This Key Symbol, and It’s Back Again"},"content":{"rendered":"

Since the start of this year, Bitcoin (BTC) has seen its price explode higher; year to date, the leading cryptocurrency has posted a gain of nearly 30%,<\/a> surging from the $7,000s to the $9,250 in a few weeks’ time.<\/p>\n

Related Reading: Crypto Tidbits: Bitcoin Stalls Above $9,000, Andrew Yang Bumps Cryptocurrency, Japan\u2019s Digital Currency<\/a><\/h6>\n

This seemingly marks a decisive end to the 50% downtrend that plagued Bitcoin throughout the second half of 2019, for positive technical signals have been flashing over the past few days, implying further reversal some say.<\/p>\n

Bitcoin Begins to Print Key Reversal Signs<\/strong><\/h2>\n

Cryptocurrency trader Brent or Blockchainblitz recently noted<\/a> that Bitcoin’s daily chart just registered a key technical signal: the 50-day moving average just today crossed above the 100-day moving average, creating a bull cross formation.<\/p>\n

He notes that in the past eight times this technical signal was seen since 2014, a “rip upward followed.”<\/p>\n

Indeed, NewsBTC’s own analysis of this specific moving average cross found that this last took place when BTC was at $5,800 in early-2019, and preceded a 140% move higher. There are also the other historical instances Brent pointed to in his chart.<\/p>\n

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Golden Cross on the 1D chart today for #Bitcoin<\/a>
Historically speaking, from 2014, 7 times out of the 8 this happened, a rip upward followed.
$BTC<\/a> pic.twitter.com\/3kmvd4hemK<\/a><\/p>\n

— Bubba (@BubbaTreks) February 5, 2020<\/a><\/p><\/blockquote>\n