Key Bitcoin Sell Signal Flashes: Here’s Why Analysts Aren’t Concerned

Per previous reports from NewsBTC, a trader going by Storm remarked that according to a  key trend indicator on the four-hour BTC chart, bulls remain in control, adding that he thinks it’s thus worth buying the cryptocurrency between $7,700 to $7,900. The indicator he mentioned is relevant as it flipped green in the middle of February and didn’t flip over to a bearish reading until September or so, giving those tracking it a chance to bag 300% profits on a Bitcoin trade.

Not to mention, the Lucid Stop and Reversal system recently printed a buy signal on the weekly candle for Bitcoin, which was a signal last seen in March of 2019, and has outperformed BTC by over 1,000% since August 2018, per trader Financial Survivalism. As noted by analyst Nunya Bizniz, in previous cycles the four months out from Bitcoin’s halvings have always been extremely bullish for the price of BTC.

Timeline of Bitcoin, Storm