Whilst the Bitcoin price (BTC) action may seem bearish to some, the leading digital asset has several bullish indicators that hint towards an imminent recovery.
As Bitcoin enters the last month of 2019, will the king of cryptocurrencies finish on a bullish rally, or fall to a yearly low?
Since the beginning of November, the daily chart has been bearish. Multiple attempts were made to break $9,500, but this failed to materialize and what came next was three and a half weeks of pain as Bitcoin plummeted to around $6,500 on Nov. 25.
The good news is that Bitcoin seemed to bounce off its new floor and quickly gained over $1,300 from it's low, changing the trend on the daily chart from bearish to bullish.
Using the Bollinger Bands (BB) Indicator, it seems the next milestone to break will be the moving average which currently lies at $8,000. From here Bitcoin will have a shot at the low $9,000 range. Read More...