cryptocurrency BTC Bitcoin

Is The Bitcoin Bear Market Over? An Increasingly Strong Confluence of On-Chain/Technical Indicators Say Yes

Reading now: 470
cryptonews.com

Six out of eight indicators watched by analysts at crypto data analytics platform Glassnode to identify when Bitcoin is transitioning out of a bear market are flashing bullish signals, and a seventh is likely to also soon turn green.

Glassnode’s “Recovering from a Bitcoin Bear” dashboard of indicators seeks to help Bitcoin investors identify when the Bitcoin market is moving towards a healthier trend by watching a mixture of on-chain, technical and network fundamental indicators.Historically, at least 5 of these indicators are flashing green when Bitcoin prices are rising.

Meanwhile, when all eight indicators start flashing bullish signals, this has historically been a great buy signal. Conversely, when less than five of these indicators are flashing green, Bitcoin’s price is typically in a long-term decline.

Light blue denotes time periods where at least five out of eight bullish conditions have been met. Dark blue denotes time periods when all eight are met.Glassnode groups these indicators into four categories.

Read more on cryptonews.com
The website fvbb.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
DMCA