Bye-Bye Bear Market? These Hallmark Bitcoin Reversal Signs Appeared

Bitcoin has been on an absolute tear over the past few days, surging by some 20% from the $6,900 low put in last week. While some say it is too early to tell whether or not this jump marks an end to the brutal bear market that brought BTC from $14,000 to $6,400 at its worst, there are a number of technical signals that have been printed that imply bulls are decisively in control.

Related Reading: Bitcoin Poised to Collapse Under $5,000? Market Cycle Fractal Suggests So

Bullish Bitcoin Technical Signals Galore

According to a number of analysts, Bitcoin’s charts are printing bullish technical signals galore.

BTCKyle posted the below tweet, noting that Bitcoin’s weekly chart has printed a bullish Parabolic Stop and Reverse candle for the first time since the $14,000 candle in June of last year. Yes, the SAR has not confirmed, though it is a positive sign for bulls should it close positive.

That’s far from the end of it. Josh Olszewicz, analyst at Brave New Coin, recently noted that Coinbase is now trading at a slight premium over Bitfinex. This is purportedly an extremely bullish signal that underscored much of the rally seen in 2019.

And Adaptive Capital’s new analyst, CL, recently noted that Bitcoin’s four-hour chart is showing clear signs of a reversal on a medium-term basis. The trader and chartist specifically looked to the Bollinger Bands indicator, which he claims shows a bullish trend is currently emerging:

“When price starts deviating away from the 4hr 200MA, out of the bands, especially after consolidation, and a BB squeeze, a new trend usually emerges. There is not much more to say, I will be buying dips. Send it.”

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