InvestingScope
Long

Bitcoin: The most sustainable bullish sequence since the ATH.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
The current candle sequence since February 6th is the longest in this bear market. Since the All Time Highs Bitcoin's strongest bullish sequence (Higher Lows) was 40 days in April/ May. The current sequence is 45 days and counting.


This is also evident on key technical indicators:

RSI: Current bullish streak above 40.000 = 45 days (longest since ATH ).

CCI: Current bullish streak above -100.000 = 45 days (longest since ATH ).

TSI: Current bullish streak above 0.000 = 35 days (longest since ATH ).


Can this be a strong indication of bullish sustainability? It certainly is a sign of accumulation of buyers after the December bottom. This is a lengthy process and the longer the price trades above those levels, the stronger the foundation of the accumulation phase gets.


Read more on Bitcoin's cycle's and phases below:

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