Popular crypto trader 'Anondran' has noticed one indicator that might indicate the advent of a new bull market.
In his tweet, Anondran wrote that Bitcoin managed to flip above the middle Bollinger band on the weekly chart. This line represents a simple 20-day moving average, which is situated between upper and lower bands.
Historically, this has been a surefire indicator of bearish-to-bullish trend reversals for the number one cryptocurrency.
Recently, John Bollinger, the creator of the aforementioned indicator, took to Twitter to calm down the bulls by saying that BTC retraced right to the middle BBs.
If the BTC price continues to move towards the upper band, traders can anticipate the continuation of the January rally that failed to pick up steam by the end of the month.
Vladislav Sopov
Dan Burgin