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bitcoin bull

Bitcoin Bullish Crossover That Last Brought 1,000% ROI Is Back

Tony "The Bull" by Tony "The Bull"
3 months ago
in BTC
Reading Time: 2 mins read

Bitcoin price is still stuck in the low $20K region, but has opened with a bullish crossover of a high timeframe momentum tool.  

In the past, the signal brought a minimum of a 1,000% return on investment. Here is a closer look at previous signals throughout the history of BTCUSD. 

High Timeframe Momentum Change Begins

The selling has stopped, but the buying has yet to kick in, as is evident by the Bitcoin price chart and several weeks now of consolidation. In the past a trend change truly kicked in once momentum measures the began to turn up on a higher timeframe. 

Reversals first begin on the lowest timeframes, with the daily flipping bullish first. As higher, more significant timeframes also cross positive, the trend change strengthens until it can no longer be ignored. 

Related Reading: Forget The Past, This “Future” Bitcoin Golden Cross Could Revive Bulls

That time could finally be coming soon, according to a bullish crossover on the 3-week LMACD. The LMACD is the logarithmic version of the MACD. The original was created by J. Welles Wilder, Jr. 

bitcoin Momentum is about to change in a big way | BTCUSD on TradingView.com

LMACD Buy Signal Brings 1,000% Or More ROI

The LMACD line crossing above the signal line from below is considered a buy signal. It is only the fourth time from below the zero line that the bullish crossover has occurred. 

Each time the bullish crossover occurred below the zero line on 3-week BTCUSD charts, Bitcoin went on to provide a minimum of a 1,000% return on investment. Two times previously resulted in 16,000% and 7,000% each. On average, this is 8,000% across the three crossovers total. 

Related Reading: This Fractal Suggests Bitcoin Price Could Nearly Double In 30 Days

Considering the law of diminishing returns, another 8,000% is improbable. Even another 1,000% rally is unlikely. But the track record of producing upside after the signal confirms is enough to anticipate a positive return. 

A confirmation is necessary, which doesn’t take place until 20 days from now. This gives 20 days to either bulls to push higher and confirm the signal, or bears to step in and uncross the signal before the current 3-week candle closes. 

Follow @TonyTheBullBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com
Tags: bitcoinbtcbtcusdBTCUSDT
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Tony "The Bull"

Tony "The Bull"

Tony is the “always-on” Editorial Director and Head of Research at NewsBTC, leading a talented team of writers and editors across several different global time zones. Tony is also the founder of CoinChartist.io – an educational website focused on crypto trading. Partners include Elliott Wave International, TradingView, and more. Tony’s background includes an extensive, award-winning media production career and over fifteen years of publishing operations and management. In the past, Tony has founded several media websites and his content has been read billions of times. Past clients include the BBC, Fidelity, and many others. Tony "The Bull" is a level 3 CMT student (passed level 1 & 2), technical analyst, Bitcoin supporter, and avid speculator. He owns a python named Satoshi. Tony longs for the day when money is separated from the state. Tony is deeply fascinated by core market principles such as Elliott Wave Theory as they tie into mathematics like Fibonacci ratios. Market timing though DeMark indicators, Ichimoku, Gann tools, or Hurst Cycle Theory are also of key interest. Tony provides completely original content driven by exclusive, independent research. For more insights and education from Tony, check out his free TonyTradesBTC Telegram channel. Follow @TonyTheBullBTC on Twitter. You can also follow @CoinChartist_io on Twitter and subscribe on YouTube.

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