A Bitcoin (BTC) in the green according to 3 indicators – Bitcoin manages to stay above $ 40,000 despite a few forays below. The bulls should regain control of the markets according to 3 technical indicators.
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Goldman Sachs leads the way for Bitcoin bullish
Bitcoin is making 3 forays below $ 40,000 today, June 15, 2021. BTC is currently registering a daily high of $ 40,704 and a low of $ 39,650 on Bitfinex. Bitcoin is trading at $ 40,193 at the time of writing.
BTC broke through $ 40,000 yesterday, June 14, 2021, after billionaire Paul Tudor Jones expressed his support for the oldest crypto. For Jurrien Timmer, director at Fidelity Investments, it seems that the “bottom has been reached”. Timmer is based on a chart comparing BTC / USD with the Goldman Sachs Retail favorites basket. The comparison shows the similar formation of lower premises.
The GS Retail faves have already started a relatively long ascent – ahead of BTC – what should therefore theoretically follow Bitcoin.
Bet on the oscillator or fear the BTC whale
The oscillator based on the Bitcoin – stablecoin ratio seems to speak with the same voice as the indicator referred to by Timmer. The oscillator measures the amount of Bitcoin on exchanges relative to the amount of stablecoin. For analyst Cole Garner, this oscillator has never “failed once to catch an uptrend in Bitcoin” since 2019. Garner indicates thatit’s time to buy bitcoins, as the oscillator on the graph touches the lower green band.
Bitcoiners should therefore now expect a rise. CryptoQuant CEO Ki Young Ju, who is behind this oscillator, qualifies this bullish forecast, however. in the very short term. According to him, a mass sale of Bitcoins is possible this week. It would come from Bitfinex where a whale has accumulated important short positions.
The Fear & Greed indicator also pleads for a Bitcoin bullish. It climbed back to the 38/100 level, near the neutral zone, after reaching a low in just over a year, during the week of June 7, 2021.
Bitcoiners should therefore theoretically rush to the BTC markets now, if they do not want to miss out on the gains generated by the running of the bulls. Speaking of profits made by bitcoiners around the world, France is at number 7th place in terms of BTC earnings achieved by country in 2020.