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

Bitcoin (BTC) Traders may be experiencing an “extreme panic”, but one analyst claims that virtually all technical indicators are showing price increases.

Talking to Cointelegraph on December 16, Filbfilb, co-founder of the trading platform Decentrader, gave more than 20 signs of Bitcoin’s next bullish momentum.

“Sufficient” for an upside-down breakout of Bitcoin

BTC / USD Obtained in equity Late Wednesday thanks to policy comments from the US Federal Reserve Board.

When it reached $ 49,300, the pair began to merge below $ 49,000. This is the point at the time of writing.

Crypto Fear & Greed Index. Source:

However, sentiment has not yet shown confidence in the short-term future of BTC pricing behavior. Crypto Fear & Greed Index Just at 29/100 — something Filbfilb believes is misplaced.

“Basically, looking at it, I think there’s a reason we think it’s enough to think we can break the upside, and I feel that trading exposure doesn’t fit the analysis,” he said. Summarized.

The accompanying list of bullish triggers was 21 items, including seller depletion, miner accumulation, and selection of indicators on the chain.

In contrast, in the bearish camp, there were only four lost 20-week moving averages, 50-day and 100-day moving averages, a 3-day chart bear signal, and a “horrible” weekly chart.

BTC / USD 1-day candlestick chart (bitstamp), 50-day, 100-day, 140-day moving average. Source: TradingView

StochRSI is lined with unusual bottoming structures

His comments chime with others’ comments in the space, and the popular Twitter account TechDev highlights several other factors that support imminent price increases.

Related: Bitcoin sheds “dumb money” as retailers have bought most BTC since the March 2020 crash

One of them, the Stochastic Relative Strength Index (Stochastic RSI), has proven to serve as a bullish flag at the bottom of the local community throughout the history of Bitcoin.

For Jeff Ross, the founder and managing director of Vailshire Capital Management, stochRSI is a noteworthy chart right now.