Finally, the Bitcoin price indicator is about to become bullish for the first time since the 2016-2017. The 50-candlestick (MA) moving average on the three-day BTC/USD chart is on a steady upward trajectory and it is expected that this trend will continue in the near future.
Experienced traders often call this long-term bull market signal a lagging trend indicator. After all, MA studies are based on historical analysis, so they can only have limited ability to predict asset behavior. But this indicator has already proved its reliability as a bull flag in the past.
The last time, MA with 50 and 200 candles appeared on February 3, 2016, after which the price of BTC began to grow rapidly to the level of $20,000 in December 2017.
If the story repeats, this indicator confirms that soon we will see another record rally, which will go far beyond the historical maximum.
We want to remind: