Why Analysts Expect More Upside After Bitcoin Just Broke $10,000 (Again) - Ethereum World News
While still in its earliest stages, analysts say this latest leg to the upside has room to run, citing a confluence of positive technical factors that suggest Bitcoin is entering back into a bull trend. Bitcoin Prints Confluence of Strong Technical Signs, Meaning More Upside May Be Imminent
Ledger Status, a prominent market commentator, noted that with Bitcoin’s latest surge higher, it has reclaimed a key moving average.
Trader Smokey, a popular market commentator, noted that the four-hour Ichimoku Cloud for Bitcoin is “starting to turn bullish again,” adding that there are other “good signs” on the same chart. Not to mention, a number of positive technical signs have been seen on Bitcoin’s one-day chart: the Relative Strength Index just decisively bounced off 50, the Chaikin Money Flow remains above the 0 baseline, and the on-balance volume is peaking out of a multi-month downtrend resistance.
