Bullish Signs Considered by BTC Traders

Colin Baseman

Bitcoin traders who have been purchasing and selling cryptocurrencies for a long time know that some certain movements in the crypto market can significantly change the usual flow of things. All these people can also foresee and predict further events by analyzing the previous cases. What they see helps them develop new strategies and improve their current tactics in order to become even more efficient in the future.

According to the latest news reports, nowadays several prominent BTC traders can notice six bullish signs for the top-ranked cryptocurrency. How tightly it is linked to the Fed non-event is not yet clear and obvious enough. However, there are users who see that the current situation outside of the crypto community has affected the crypto data in general. Market signs are likely to point up.

At the same time, we can see that bulls are still kinging there and, as Filbfilb indicates, today’s futures expiry may bring quite some trouble.

Professionals mention that the crypto may still top thirteen thousand USD and even higher since a whole range of non-events still tend to leave bulls in a relatively powerful and strong position. Important data comes fromCoin360 where statistics show the crypto climbing toward eleven thousand five hundred on Friday and this level seems crucial enough to reclaim for gains to remain.

Predictions Made by Traders

In several updates, trader Filbfilb announced that even though there was volatility the previous day, people remained long on the crypto. Weekly charts illustrate that eleven thousand appears to be holding as support. Once the crypto reaches eleven thousand and five hundred, the level will be the immediate objective to remain comfortable – this situation looks perfect for those who expect to see bullish re-accumulation. Lofty targets are no exception in this instance.

There is a monthly pivot at approximately twelve thousand nine hundred and twenty-five USD. At the same time, monthly resistance from the previous year witnessed the crypto hit thirteen thousand eight hundred and seventy USD.

On the other hand, the signs seemed relatively positive. More than that, Filbfilb dismissed concerns over the speech presented by the Fed. Professionals may also now dismiss various pseudo-bearish signals for the top-ranked asset. Of course, the speech itself might have sounded ‘non-event’. This seems to have been priced in by the major markets.

Dozens of experts mention the importance of futures expiries as well as maximum pain. Filbfilb adds that there will be quite some action since settlement dates have added some downward pressure to the crypto markets. Nevertheless, it’s essential to consider the failure of the most recent options expiries – they didn’t manage to move the market, although there was plenty of anticipation of volatility.