Bitcoin (BTC) has been rising since March 14 and is starting to show the first signs of a potential bull run.
At the end of the week of March 13-20, Bitcoin strengthened, forming a bullish candle and neutralizing a significant part of the long upper wicks of the previous week. Now BTC is trading on the outskirts of the $43,000 resistance area, which has remained unbroken since the beginning of the year.
In addition to the bullish candle, another important bullish signal is the rise of the momentum bar (green icon) on the MACD. This is an indication that the short-term MA is gradually gaining momentum relative to the longer-term MA.
This bar was the first rising momentum bar (green icon) after 17 consecutive weeks of declines (red icon).
The last time this happened was in August 2021, and then BTC launched growth towards the current all-time high reached in November last year.
At the end of the week of March 13-20, Bitcoin strengthened, forming a bullish candle and neutralizing a significant part of the long upper wicks of the previous week. Now BTC is trading on the outskirts of the $43,000 resistance area, which has remained unbroken since the beginning of the year.
In addition to the bullish candle, another important bullish signal is the rise of the momentum bar (green icon) on the MACD. This is an indication that the short-term MA is gradually gaining momentum relative to the longer-term MA.
This bar was the first rising momentum bar (green icon) after 17 consecutive weeks of declines (red icon).
The last time this happened was in August 2021, and then BTC launched growth towards the current all-time high reached in November last year.