Key Metric Indicates Further Positives for Bitcoin

Key Metric Indicates Further Positives for Bitcoin

The Ichimoku Cloud, one of the most important methods of technological analysis for Bitcoin, has shown a positive indication for a Bullish bitcoin market.

The last couple of days in the bitcoin market will have got even the most pessimistic investor hopes up for a return of the glory days. The latest intel from Ichimoku Cloud, whose metric demonstrate support and resistance levels, will help to further the optimism about a return of a bull market.

After 442 days, the first a positive candle emerged one of their charts which indicates the return of market growth in the future. Naturally, this has got everyone very excited about what’s to come.

This news comes right in the middle of its biggest growth of 2019 which saw it reach a value increase by 19% within minutes, reaching the $5000 mark and ending an on-going bear trend. This further saw other major cryptocurrencies increase in value, most notably Bitcoin Cash.

Although we can expect a slump in the coming days as a result of the surge though, the benchmark for a key resistance level was $4,200, and it has already far surpassed that so things are really starting to get exciting.

What the next few months hold will be very telling, with predictions ranging from the upcoming value ranging from 6,00010,000.  However, with the next halvening on the agenda set for May 2020, it is expected that the value will be set to carry on in the near future at least.

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