{"id":464799,"date":"2021-05-31T16:15:17","date_gmt":"2021-05-31T16:15:17","guid":{"rendered":"https:\/\/ktsl888.com\/?p=464799"},"modified":"2024-06-11T13:35:44","modified_gmt":"2024-06-11T13:35:44","slug":"five-signs-bitcoin-bottom-bullish","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/five-signs-bitcoin-bottom-bullish\/","title":{"rendered":"Five Signs That The Bitcoin Bottom Is In"},"content":{"rendered":"<p><a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-dips-just-above-42000\/\">Bitcoin price<\/a> was slashed in half during the month of May, leaving today as the last day for bulls to make a stand and undo the worst monthly on record.<\/p>\n<p>Even if the blood stain is left behind on the price chart for good, that doesn&#8217;t mean bulls still can&#8217;t pull off an upset and push prices higher. Here are five signs that Bitcoin price has bottomed out, or will be soon.<\/p>\n<h2>The Signals Showing The Bitcoin Bottom Is Near<\/h2>\n<p>Just as <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bizarre-bitcoin-fear-and-greed-index\/\">extreme bullish sentiment<\/a> and exuberance around mid-April was the local top of the 2021 rally so far, the current level could also act as the bottom now that sentiment has shift to the polar opposite.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-464811 aligncenter\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/05\/bitcoin-rsi-support-daily.png?resize=860%2C422\" alt=\"\" width=\"860\" height=\"422\"><\/p>\n<pre style=\"text-align: center\">A hidden bull div has formed on daily support | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p><a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-head-and-shoulders-crypto\/\">Contrarian investors<\/a> and traders suggest buying the fear or blood in the streets, but that&#8217;s still not the reason to think the bottom is in.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a class=\"row-title\" href=\"https:\/\/ktsl888.com\/analysis\/btc\/building-case-bitcoin-bottom\/\">Building The Case That The Bitcoin Bottom Is In<\/a><\/strong><\/em><\/p>\n<p>Rather, technicals on nearly all timeframes point to a reversal in the making. The first ever cryptocurrency is forming a bullish divergence (above) while at daily support. The bounce happened once the <a href=\"https:\/\/ktsl888.com\/topic\/relative-strength-index\/\">Relative Strength Index<\/a> hit oversold levels.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-464810 aligncenter\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/05\/bitcoin-lmacd-bullish.png?resize=860%2C422\" alt=\"\" width=\"860\" height=\"422\"><\/p>\n<pre style=\"text-align: center\">The logarithmic MACD shows momentum is turning upward | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p><a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-daily-macd-flips-red-for-first-time-since-20k-was-taken\/\">The daily LMACD<\/a> is also turning upward, showing that bulls are attempting to regain momentum on daily timeframes after a month of mayhem.<\/p>\n<p>Moving up to a higher timeframe, Bitcoin price has also bounced at a rising trendline of RSI support on the three-day chart (below).<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-464809 aligncenter\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/05\/bitcoin-3d-bottom-ris.png?resize=860%2C422\" alt=\"\" width=\"860\" height=\"422\"><\/p>\n<pre style=\"text-align: center\">Bitcoin bounced off a high timeframe RSI support trend line | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<h2>But Wait, There&#8217;s More Reasons To Be Bullish On BTC<\/h2>\n<p>If that&#8217;s not enough to believe there&#8217;s a low-timeframe reversal in the making, on higher timeframes there&#8217;s still many more reasons to be bullish.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bart-simpson-back-bitcoin\/\">Don\u2019t Have A Cow: Bart Simpson Is Back In Bitcoin<\/a><\/strong><\/em><\/p>\n<p>The rarely-looked-at two-week timeframe shows that Bitcoin fell to the middle-SMA on the <a href=\"https:\/\/ktsl888.com\/topic\/bollinger-bands\/\">Bollinger Bands<\/a>. During the last bull market, the line was never lost. In fact, touching it resulted in the finally impulse upward.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-464808 aligncenter\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/05\/btc-2-week-bollinger-bands.png?resize=860%2C422\" alt=\"\" width=\"860\" height=\"422\"><\/p>\n<pre style=\"text-align: center\">The two-week middle-BB was retested only once during the last bull run | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>The recent push down also caused Bitcoin&#8217;s <a href=\"https:\/\/bitcoinist.com\/most-profitable-signal-bitcoin-2021\/\" rel=\"nofollow\">most profitable buy signal<\/a> to indicate &#8220;capitulation&#8221; in BTC miners. Past bull markets saw more than 8,000% and 3,500% after the last buy signal appeared per cycle.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-464807 aligncenter\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/05\/btc-hash-ribbons-miner-capitulation-2021.png?resize=860%2C422\" alt=\"\" width=\"860\" height=\"422\"><\/p>\n<pre style=\"text-align: center\">The most profitable buy signal in crypto is about to trigger | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>Nearly every time the signal appears, more upside is on the way. So why would this time be any different?<\/p>\n<p>With so many signals stacking up, chances that the cryptocurrency is near the bottom are becoming more likely. Drawdowns post buy signal are still common, however, the potential reward has historically always outweighed the risk in terms of ROI versus loss.<\/p>\n<pre>Featured image from iStockPhoto, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price was slashed in half during the month of May, leaving today as the last day for bulls to make a stand and undo the worst monthly on record. Even if the blood stain is left behind on the price chart for good, that doesn&#8217;t mean bulls still can&#8217;t pull off an upset and push prices higher. Here are five signs that Bitcoin price has bottomed out, or will be soon. The Signals Showing The Bitcoin Bottom Is Near Just as extreme bullish sentiment and exuberance around mid-April was the local top of the 2021 rally so far, the current level could also act as the bottom now that sentiment has shift to the polar opposite. A hidden bull div has formed on daily support | Source: BTCUSD on TradingView.com Contrarian investors and traders suggest buying the fear or blood in the streets, but that&#8217;s still not the reason to think the bottom is in. Related Reading | Building The Case That The Bitcoin Bottom Is In Rather, technicals on nearly all timeframes point to a reversal in the making. The first ever cryptocurrency is forming a bullish divergence (above) while at daily support. The bounce happened once the Relative Strength Index hit oversold levels. The logarithmic MACD shows momentum is turning upward | Source: BTCUSD on TradingView.com The daily LMACD is also turning upward, showing that bulls are attempting to regain momentum on daily timeframes after a month of mayhem. Moving up to a higher timeframe, Bitcoin price has also bounced at a rising trendline of RSI support on the three-day chart (below). Bitcoin bounced off a high timeframe RSI support trend line | Source: BTCUSD on TradingView.com But Wait, There&#8217;s More Reasons To Be Bullish On BTC If that&#8217;s not enough to believe there&#8217;s a low-timeframe reversal in the making, on higher timeframes there&#8217;s still many more reasons to be bullish. Related Reading | Don\u2019t Have A Cow: Bart Simpson Is Back In Bitcoin The rarely-looked-at two-week timeframe shows that Bitcoin fell to the middle-SMA on the Bollinger Bands. During the last bull market, the line was never lost. In fact, touching it resulted in the finally impulse upward. The two-week middle-BB was retested only once during the last bull run | Source: BTCUSD on TradingView.com The recent push down also caused Bitcoin&#8217;s most profitable buy signal to indicate &#8220;capitulation&#8221; in BTC miners. Past bull markets saw more than 8,000% and 3,500% after the last buy signal appeared per cycle. The most profitable buy signal in crypto is about to trigger | Source: BTCUSD on TradingView.com Nearly every time the signal appears, more upside is on the way. So why would this time be any different? With so many signals stacking up, chances that the cryptocurrency is near the bottom are becoming more likely. Drawdowns post buy signal are still common, however, the potential reward has historically always outweighed the risk in terms of ROI versus loss. Featured image from iStockPhoto, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":464805,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1057,1119,1144,78790,6664,66102,83716,2849,14763,4524,76835],"class_list":["post-464799","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bollinger-bands","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-hash-ribbons","tag-lamcd","tag-macd","tag-rsi","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Five Signs That The Bitcoin Bottom Is In<\/title>\n<meta name=\"description\" content=\"Bitcoin price was slashed in half during the month of May, leaving today as the last day for bulls to make a stand and undo the worst monthly on record.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/five-signs-bitcoin-bottom-bullish\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Five Signs That The Bitcoin Bottom Is In\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price was slashed in half during the month of May, leaving today as the last day for bulls to make a stand and undo the worst monthly on record.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ktsl888.com\/news\/five-signs-bitcoin-bottom-bullish\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-31T16:15:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T13:35:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/05\/bitcoin-btc-bull-bottom-iStock-1223076245.jpeg?fit=1351%2C776\" \/>\n\t<meta property=\"og:image:width\" content=\"1351\" \/>\n\t<meta property=\"og:image:height\" content=\"776\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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