Those burned by the last big Bitcoin bull run are rightfully skeptical that another one is here so soon. However, a trend strength indicator is now confirming the existence of a new bullish trend emerging.
Are bulls finally back in control over crypto? Sidelined investors and traders will want to pay attention.
How Technicals Could Confirm A New Bullish Trend In Bitcoin
Bitcoin price is pulling back after a few failed attempts to make it though $38,000 resistance. This sudden weakness after a major breakout is both reassuring for bears and confusing for bulls. Those on the sidelines still aren’t certain what to do.
But that’s what technical indicators were designed for – to eliminate noise and emotions, allowing the tools to make the decisions for you.
According to a trend strength measuring tool called the Average Directional Index, the bullish Bitcoin trend just became official as the indicator reaches above a reading of 20. The last time that BTCUSD reached above 20 while bull
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