Bitcoin Trading Indicator Prints Long Signaling Big Rally Ahead

The Blockroots Alpha trend just printed a “long” signal this week on the $BTC 3D chart The last two times “long” signaled:– Sept ’16 prior to the Bitcoin ATH– March 26, days before the $1000 candle and run to $13ks#Bitcoin Check out https://t.co/BIdIYUzTyt for more pic.twitter.com/zFqKdkcncB — Josh Rager (@Josh_Rager) February 2, 2020

When asked about Open Interest on BitMEX Rager added; “I’m not too worried about it, I think we will see pullback, that’s a given so it just depends on leverage, smart trading such as 2x to 3x won’t get anyone liquidated but many of these people are shooting for the moon,” OI has now hit $1 billion on BitMEX which usually results in a correction. Traders appear to be starting to exercise caution now and taking some profit off the table.

Elsewhere on Crypto Markets Total market capitalization is currently just over $260 billion which is the highest it has been for over four months. Bitcoin dominance has dropped a little to 66.5% which is good news for the altcoins. Ethereum has had a big weekend with a push to $190 and a 5% gain over the past 24 hours. Being so far down from its all-time highs, ETH prices are more attractive at the moment so it is likely to see bigger gains in the coming months. Ripple’s XRP has also made a rare move to $0.25 while EOS and Ethereum Classic have both gained 5% on the day. Tezos is one of the top performers at the moment with a 12% pump to reach $1.90. Will bitcoin continue to rally into February? Add your thoughts below. The post appeared first on Bitcoinist.com.

source: https://bitcoinist.com/bitcoin-trading-indicator-prints-long-signaling-big-rally-ahead/

TheBitcoinNews.com is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some BATSend Tip now!