Bitcoin Technical Indicator Confirms New Uptrend After 16 Months of Red

Ever since last week’s Bitcoin rally that broke through critical resistance at $4,200, bulls have appeared to be back in charge. What is still unclear at the moment, is if the bottom of the 2018-2019 crypto bear market is in, and the early signs of a new bull run are beginning.

Giving further merit to bulls claiming the bottom is now behind us, one specific Bitcoin technical indicator has turned bullish for the first time in 16 months, which according to many confirms that a new uptrend has begun.

Bitcoin Super Guppy Multiple Moving Average Indicator Flips Bullish

The crypto bear market has been hard fought by bulls, who eventually succumbed to bearish sell pressure in November, causing a break of repeatedly tested support at $6,000. The violent move down took Bitcoin into a new trading range, touched its local bottom, and began a multiple-month accumulation period.

Related Reading | 2019 Crypto Alt Season Kicks Off With Over 20 Altcoins Doubling in Value 

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2019-04-10 20:00:28

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