Bitcoin (BTC) Signals Significant Rise On This Indicator For The First Time In Over A Year!

Bitcoin (BTC) It gave an important technical bullish signal that it hadn’t seen in over a year. A technical analysis tool BTC Guppyreversed for the first time in more than 12 months. This could be a sign that the cryptocurrency is preparing for a significant rise.

BTC Guppy Reverses For The First Time In Over A Year

Guppy, also known as the Multiple Moving Average (MMA) indicator, is used to identify trends in the market. It uses multiple moving averages to help traders determine the direction and strength of a trend.

the #BTC Guppy has flipped for the first time in over a year.

The shorter-term moving averages (blue) have flipped the longer-term moving averages (red) for the first time in over 12 months. pic.twitter.com/mXU7aGyn3G

— Delphi Digital (@Delphi_Digital) February 20, 2023

Shorter-term moving averages are generally more sensitive to changes in price, while longer-term moving averages are more stable.

When the shorter-term moving averages break above the longer-term moving averages, it is considered a bullish signal. This indicates that the price of the asset is gaining strength and will likely continue to rise.

Conversely, when the shorter-term moving averages cross below the longer-term moving averages, it is considered a bearish signal.

Bitcoin’s recent Guppy reversal could be a strong indicator of an uptrend. The short-term moving averages broke above the long-term moving averages for the first time in over a year.

This may indicate that the price of Bitcoin will rise significantly in the near future.

Bitcoin’s price performance has been relatively strong over the past few weeks. It is currently trading around $24,800 and has gained more than 6% in the last five days.

This could be a sign that investors are getting more bullish on the cryptocurrency and are poised to make more gains in the coming weeks and months.

*Not investment advice.