• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
bitcoin, cryptocurrency

Bitcoin Explodes as Rare Bull Signal Flashes For the First Time in 10 Months

Yashu Gola by Yashu Gola
3 years ago
in Technical analysis, Bitcoin
Reading Time: 2 mins read
Advertisement

Bitcoin was trending higher through the early European session on Thursday as a very rare bull signal flashed for the first time in 10 months.

Dubbed as Ichimoku Cloud, the technical indicator turned green to identify a long-term upside trend shortly after bitcoin surged towards $9,769.70 on Wednesday. It also hinted at the imminent formation of a Golden Cross – a popular candlestick pattern that predicts an upcoming bull market.

bitcoin, cryptocurrency
History of Ichimoku Cloud rollovers | Source: TradingShot

Gains All the Way

Analysts at trading signals provider TradingShot called out Ichimoku Cloud for its historical accuracy in the past three years. They noted that the indicator correctly determined trend directions. On October 11, 2019, for instance, the Ichimoku Cloud turned red that soon followed the formation of a Death Cross – the opposite of Golden Cross.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

Bitcoin fell by circa 25 percent shortly after the bearish signal.

Similarly, when the Ichimoku Cloud rolled over to green on April 20, 2019, bitcoin soon established a Golden Cross on its daily charts. The cryptocurrency later swelled by circa 170 percent to mark its year-to-date high towards $13,868.44. TradingShot explained:

“As you can see on the chart, after every bearish Ichimoku roll-over, a Death Cross follows shortly after. Respectively after every bullish Ichimoku roll-over, a Golden Cross follows. Since the new Ichimoku Bullish roll-over just took place, a new Golden Cross in pending (see on the chart how the MA50 and MA200 have already started to converge).”

The prediction came in tandem with similar bullish expectations all across the bitcoin market. Experts, including billionaire investor Michael Novogratz, the CEO of Galaxy Investment Partners, said the cryptocurrency is eyeing a bull run towards or above $10,000 in the coming sessions.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

TradingView.com’s top analyst Jacob Canfield also noted that bitcoin is trending upwards in an Ascending Channel – and there seem to be no breakdowns in views as of late.

https://twitter.com/JacobCanfield/status/1225156072853397504

Bitcoin 1-D Chart

Bitcoin was looking modest during the Thursday’s trading session, trading above $9,650 while holding a major portion of the gains it registered yesterday.

bitcoin, cryptocurrency
BTC/USD testing Rising Wedge resistance | Source: TradingView.com, Coinbase

But the cryptocurrency remained locked inside a bearish continuation range defined by the redded Rising Wedge. The channel’s resistance clearly capped bitcoin’s upside attempts that raised the possibility of a deep pullback towards the support (or towards the blued 200-DMA wave).

Moving forward, a bull run continuation could see bitcoin invalidate the Rising Wedge pattern altogether. That would also lead the cryptocurrency towards $10,000 – a psychological resistance.

Conversely, a pullback would strengthen the possibility of a breakdown below the Rising Wedge formation, with a downside target towards the blacked 50-DMA wave.

Tags: bitcoincryptocurrency
Tweet123Share521ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN. Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Related Posts

Bitcoin U.S. institutional investors

U.S. Institutions Are Driving Bitcoin Prices, Matrixport Research

14 hours ago
Bitcoin

Bitcoin Exchange Outflows Reach Highest Value Since FTX Crash, Bullish?

18 hours ago
Polygon {MATIC}

Polygon (MATIC) Surges Nearly 10% As zkEVM Network Update Draws Near

20 hours ago
Bitcoin Investors Turn Greedy For First Time Since March 2022

Bitcoin Investors Turn Greedy For First Time Since March 2022

21 hours ago
Bitcoin Supply In Loss

Bitcoin Supply In Loss Hits A 9-Month Low

1 day ago
Bitcoin Retracement

Bitcoin Hash Rate Registers New Highs, A Selloff Imminent?

1 day ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
Metaspins

Metaspins

Review · Visit
Coinplay

Coinplay

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Connecting the dots on $PAW. Is Ryoshi back?

January 28, 2023

Cardano’s (ADA) first native stablecoin will launch next week, Binance (BNB) Moved $346M for the Defunct Exchange Bitzlato, Snowfall Protocol (SNW) brings in massive 500% profits to investors

January 28, 2023

Cardano (ADA) Leads Crypto Dip as Market Sheds $27B Overnight, DMM Bitcoin starts handling Polygon (MATIC), Less than 7 days remain to Snowfall Protocol’s (SNW) launch

January 28, 2023

Cardano (ADA) and Solana (SOL) Holders See Potential in Snowfall Protocol (SNW)

January 28, 2023

The Meta Masters Guild Presale Generates $1.5 Million So Far With Price Hike of 23% in Next 48 Hours.

January 27, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.