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Why This Bitcoin Indicator Points To Bullish Double Bottom

Why This Bitcoin Indicator Points To Bullish Double Bottom


NewsBTC
2022-10-29 22:02:53
Why This Bitcoin Indicator Points To Bullish Double Bottom

Bitcoin continues to push to the upside closing several daily candles on the green, positively impacting the crypto market. At the same time, the benchmark cryptocurrency trends upwards, and the general sentiment shifts into greed territory for the first time since May 2022. Related Reading: Bitcoin Reclaims $20,500; Here Are The Levels You Should Pay Attention To At the time of writing, Bitcoin (BTC) trades at $20,850 with a 1% profit in the last 24 hours and a 9% profit in the previous week, respectively. Ethereum (ETH) and Dogecoin (DOGE) are the best performers in the top 10 by market cap on similar timeframes. Bitcoin Rally Likely To Continue? Bitcoin and the crypto market displayed a high correlation with traditional finances. However, digital assets have been moving against the trend over the past few days. While Amazon, Netflix, Apple, Meta, and other big tech companies tanked due to low earnings, Bitcoin broke above critical resistance at $20,500. In that sense, BTC and the crypto market closed in the green with the weekend approaching. With traditional markets closed, cryptocurrencies are free to score more profits. The bullish momentum extended on traders’ disbelief and because of Dogecoin and Ethereum’s push to the upside. The king of the meme coins rallied this Friday after Elon Musk confirmed the acquisition of the social media platform Twitter. The bullish price action in the crypto market led many t...

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