"Game On", déclare un analyste alors que Bitcoin imprime un croisement pivot

Bitcoin is forming a pivotal buying signal after weeks of consolidation. The cryptocurrency pushed higher over the past 10 days, which allowed this indicator to trend higher to form the buying signal seen today.

Bitcoin Prints Pivotal Ichimoku Cloud Crossover

Josh Olszewicz, analyste d'actifs crypto, récemment noté that the cryptocurrency formed a bullish TK Cross as per the Ichimoku Cloud indicator.

The indicator is a multi-faceted indicator that shows important price levels along with the trend of the asset being analyzed.

The last time this signal was seen was amid the late-July rally that took Bitcoin from the $9,000s to $11,000 and beyond.

This is important as it suggests that the medium-term BTC trend is bullish. It is somewhat of a lagging indicator that follows Bitcoin’s price higher instead of predicting future price movements.


Chart of BTC's price action over the past few months with analysis by crypto trader Josh Olszewicz.
Source: BTCUSD de TradingView.com

Olszewicz noted that the cryptocurrency’s Ichimoku Cloud indicator has an extremely positive hit rate as per historical market data.

He shared a chart indicating that since 2013, the indicator has had an 80% hit rate, marking the start of strong legs higher in previous bull markets. For one, prior to the rally to $20,000, at $3,500 or so, Bitcoin formed this bullish crossover. This historical precedent bodes well for buyers of the leading cryptocurrency.

Expect a Short-Term Reversal

While the long-term outlook for Bitcoin remains strong, the short-term to medium-term outlook may be bearish.

Willy Woo, a prominent on-chain analyst, recently shared the chart seen below.

It shows that Bitcoin is likely to retest the CME futures gap formed at $11,200.

«Il s'agit d'une analyse technique à court terme au lieu de mes fondamentaux normaux; attention, l'analyse à court terme est beaucoup moins fiable, plus pour les joueurs de casino. RÉSUMÉ: Je soupçonne que le dernier espace CME (ce qu'il en reste en vert) peut être comblé. »

As to why he thinks this will take place, Woo noted that there are order book/market trends showing that distribution is taking place under the noses of traders. This means that there has been an increase in selling pressure. Not to mention, the analyst noted that Bitcoin’s recent price action resembles the Wyckoff Distribution textbook pattern, often seen prior to drawdowns.


Graphique de l'action des prix à terme du CME de BTC au cours des dernières semaines avec une analyse de Willy Woo. La source: BTCUSD de TradingView.com
Image vedette de Shutterstock Étiquettes de prix: xbtusd, btcusd, btcusdt Graphiques de TradingView.com
"Game On," Analyst Says as Bitcoin Prints Pivotal Crossover

Source: https://bitcoinist.com/game-on-analyst-says-as-bitcoin-prints-pivotal-crossover/?utm_source=rss&utm_medium=rss&utm_campaign=game-on-analyst-says-as-bitcoin-prints-pivotal-crossover