• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

Every Time Bitcoin Flashed This Signal Since 2015, a Boom Followed. It’s Back

Nick Chong by Nick Chong
2 years ago
in Bitcoin
Reading Time: 3 mins read
Advertisement

Bitcoin has been on an impressive run over the past few weeks, mounting past resistance after resistance despite a harrowing macroeconomic backdrop. Since the March lows of $3,700, BTC is up 150%, a stellar performance that puts almost any other $100 billion+ asset to shame.

Although impressive, Bitcoin continuing to set new local highs and holding above key support levels has allowed the cryptocurrency to print a confluence of extremely positive technical signs.

Related Reading: Crypto Tidbits: Bitcoin Hits $9ks, a16z Raises $500M Crypto Fund, Ethereum 2.0 Nears

This trend continued on May 1st when Nunya Bizniz, a Bitcoin chartist and analyst, observed that the signal that preceded some of Bitcoin’s most important rallies over the past few years has just been spotted again.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Analyst Spots Crucial Bitcoin Signal, Suggesting “Significant Upside” Ahead

Because Bitcoin’s value is largely derived from its network effect — which suggests that the value of a good or service is directly related to the number of consumers, often on an exponential scale  — BTC has long traded in a parabolic fashion.

Just look to the asset’s chart, which is filled to the brim with parabolic rallies and parabolic crashes, much unlike the slow-and-steady price action most often seen with traditional asset classes like stocks and bonds.

This has made the Parabolic Stop-and-Run Reversal Indicator (PSAR) a natural fit for analyzing Bitcoin, according to a recent observation by Nunya Bizniz.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!
Bitcoin parabolic indicator
Chart from Nunya Bizniz (@Pladizow on Twitter)

Referencing the chart seen above, he explained that in the wake of the six times this indicator has appeared in the past five years, Bitcoin saw “substantial upside.”

Such was the case at the start of 2019, when just prior to the 25% breakout on April 1st, the PSAR flipped bullish, marking the start of an over 300% rally. Similarly, the PSAR flipped bullish multiple times in the 2,000% 2017 rally to mark local highs and bullish continuations.

History repeating will see Bitcoin strongly break to the upside yet again in the coming weeks. Accentuating how strong this sign could be, Bizniz rhetorically asked: “Can this be interpreted any other way than bullish?”

One Sign of Many

Yet the PSAR flipping bullish is only one sign of many indicating that Bitcoin may soon benefit from a longer-term bull trend.

For one, Bitcoin’s strong rebound in April saw the cryptocurrency close its monthly candle above a key level of the Ichimoku Cloud on the one-month chart.

This is relevant for BTC because the last time Bitcoin claimed this technical level was in early 2016, when the cryptocurrency was trading around $500 and prior to the 4,000% rally that brought the cryptocurrency to $20,000 just 20 months later.

Adding to this, one trader noted that the leading crypto recently broke above a rising wedge formed from March’s lows until now. This is the exact same pattern hat marked the start of 2019’s bull run, which brought prices from the $4,000s to $14,000 in three months’ time.

Related Reading: Bullish for Crypto: A G7 Central Bank Confirmed It’s Floating Negative Rates
Photo by Victor Freitas on Unsplash
Tags: bitcoin pricebtcusdbullishtechnical analysis
Tweet123Share379ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Related Posts

bitcoin

Why Rich Dad, Poor Dad Author Will Wait For Bitcoin To Drop To $1,100 Before Buying More

12 hours ago
Bitcoin And USDC

USDC Exchange Reserves Rise As Investors Escape From Bitcoin

15 hours ago
Bitcoin network

Bitcoin Enters Hibernation Mode As Network Activity Lulls

17 hours ago
Fed Announces Inflation Warnings As Bitcoin Whales Remain In Wait Mode

Fed Announces Inflation Warnings As Bitcoin Whales Remain In Wait Mode

21 hours ago
Mining Operators Fret As Bitcoin Looses Ground, What Lies Ahead For The Mining Community

Mining Operators Fret As Bitcoin Looses Ground, What Lies Ahead For The Mining Community

21 hours ago
Bitcoin

Bitcoin Slides Under $20K – Another Collapse In The Offing?

22 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

U Promise Me: The Digital Promise Platform

July 1, 2022

XT.com Lists Land of Fantasy (LOF) With USDT Trading Pair

July 1, 2022

LYOTRADE Launches Crypto Loans—Get USDT and Win Against Volatility

July 1, 2022

Torches Genesis NFT Launching, Win Torchlight NFT to Unlock IDO Allocation

June 30, 2022

Crypto News Flash: Best Meme Coins to Explore in Bear Market 2022 – Floki Inu (FLOKI), Akita Inu (AKITA) and RoboApe (RBA)

June 30, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.