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.
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.
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.
— TechDev (@ TechDev_52) December 15, 2021
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.
What I’m looking at …
Check out the last four Stochastic RSI (14) bottoms every week since late 2019 #bitcoin chart.
We are at or near # 5.
Shoot your shot. pic.twitter.com/l96rASOWXq
— Dr. Jeff Ross (Preb Counselor) (@ VailshireCap) December 14, 2021