Bitcoin course: Signs of a positive trend reversal indicate a possible massive price increase

Bitcoin course: Signs of a positive trend reversal indicate a possible massive price increase

Bitcoin (BTC) may have overcome its long bear market and may be on the way to a massive increase in price, as can be seen from various indicators. The sliding 200-week average (200WMA) indicates that the last bear market was the worst in the history of Bitcoin. The cryptoma market expert Plan B has shown this in a diagram pattern analysis.

In addition, the relative strength indicator (RSI) of Bitcoin has increased from the zero line of the two-week chart, which indicates the beginning of a bull market. This pattern was commented on by the pseudonymous crypto analyst dealer bearded on Twitter. Bitcoin's trends also point out that Bitcoin is preparing for a possible all-time high (ATH), since it has shown the beginning of a bull run in the past in the 22 months before the US presidential elections and has recently entered the preliminary high phase.

At the time of publication, Bitcoin was traded at $ 30,594. In the last 24 hours there has been a loss of 0.24 % and a decline of 1.77 % in the last seven days. Nevertheless, the profit of 16.98 % continues from the month.

The recovered Bitcoin and a potential new high could also cause the US stock exchange supervision SEC to possibly approved the very first Spot-Bitcoin-Exchange-Traded Fund (ETF). There are reports of a flood of applications and inquiries, including Blackrock, the world's largest asset manager.

It is important to note that this article does not represent investment advice and that investing in Bitcoin is speculative and risks.

Overall, various indicators and trends indicate that Bitcoin may have overcome the bear market and prepares for a massive increase in price. However, investors should know the risks of investing in Bitcoin and carry out their own research before making a decision.