Analyst lists 21 factors calling for Bitcoin price upside — But just 4 bearish signals


Bitcoin’s price has been on a roller-coaster ride for much of 2018. Speculators have often looked to charts, technical analysis or other factors such as news events and the opinions of market experts in order to anticipate bitcoin’s next move. These 21 analyses should help you understand what might happen with BTC over the coming weeks and months.,

The “bitcoin price analysis” is a list of 21 factors that are calling for Bitcoin’s price to go up. However, the four bearish signals listed in the article are not convincing enough to cause a drop in Bitcoin’s price.

Bitcoin (BTC) traders may be in a state of “severe fear,” but one expert claims that almost all technical indicators lead to a price increase.

On Dec. 16, filbfilb, co-founder of trading platform Decentrader, told Cointelegraph that there are more than 20 signals indicating Bitcoin is about to enter a bullish phase.

“There’s enough there” for Bitcoin to break out to the upside.

BTC/USD rose in tandem with markets late Wednesday, owing to remarks from the US Federal Reserve on policy.

After reaching $49,300, the pair started to consolidate below the $49,000 level, where it is now trading.

Analyst lists 21 factors calling for Bitcoin price upside — But just 4 bearish signalsFear and Greed Index for Cryptocurrencies. Alternative.me is the source of this information.

The Crypto Fear & Greed Index, which filbfilb says is misguided, has yet to demonstrate any trust in the short-term prospects of BTC price movement, with the Crypto Fear & Greed Index at only 29/100.

“Basically looking at it, I believe there’s enough there to think we may break to the upside, and I don’t think there’s any trading exposure that fits the analysis,” he concluded.

Seller fatigue, miner accumulation, and a variety of on-chain measures were among the 21 criteria on a list of bullish catalysts.

The lost 20-week moving average, 50 and 100-day moving averages, bear signs on the 3-day chart, and a “terrible” weekly chart were the only negative indicators.

Analyst lists 21 factors calling for Bitcoin price upside — But just 4 bearish signalsBTC/USD 1-day candle chart (Bitstamp) includes moving averages of 50, 100, and 140 days. TradingView is the source of this information.

The Stoch RSI identifies a unique bottoming structure.

His remarks echo those of others in the industry, with prominent Twitter account TechDev pointing to a number of other signs that point to an impending price increase.

Since the March 2020 meltdown, Bitcoin has lost its ‘dumb money’ image as ordinary buyers have purchased the majority of the cryptocurrency.

With the RSI just above 40 and an impending stoch RSI cross, I believe a 3-day hidden bull div in #BTC is about to play out, all after a preceding bear div-marked local distribution top. pic.twitter.com/warqTBc27d

December 15, 2021 — TechDev (@TechDev 52)

Throughout Bitcoin’s history, one of them, the stochastic relative strength index (stoch RSI), has been demonstrated to behave as a bull flag at local bottoms.

The stoch RSI chart is now the chart to watch, according to Jeff Ross, founder and managing director of Vailshire Capital Management.

What I’m viewing right now…

On the weekly #bitcoin chart, look at the previous four stochastic RSI (14) bottoms since late 2019.

We’re at or around #5 right now.

Make your move. pic.twitter.com/l96rASOWXq

December 14, 2021 — Dr. Jeff Ross (Pleb counselor) (@VailshireCap)

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