{"id":415965,"date":"2020-02-25T16:20:27","date_gmt":"2020-02-25T16:20:27","guid":{"rendered":"https:\/\/wncen.com\/?p=415965"},"modified":"2024-06-11T13:42:30","modified_gmt":"2024-06-11T13:42:30","slug":"the-last-3-times-this-signal-appeared-bitcoin-bounced-it-just-appeared-again","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/the-last-3-times-this-signal-appeared-bitcoin-bounced-it-just-appeared-again\/","title":{"rendered":"The Last 3 Times This Signal Appeared, Bitcoin Surged. It Just Appeared Again"},"content":{"rendered":"

Bulls can’t seem to catch a break. Bitcoin once again continued to trend lower on Tuesday, falling from $9,550, where it traded at for most of Monday, to prices as low as $9,325<\/a> as of the time of this article’s writing. Per data from CoinMarketCap<\/a>, BTC is now down 3.5% in the past 24 hours.<\/p>\n

Despite this seemingly endless correction, which began when Bitcoin rejected $10,500, a key technical analysis signal just appeared that may suggest the embattled market is in for a bullish bounce in the near future.<\/p>\n

Related Reading: Last Time Bitcoin Flashed This Signal, It Rallied 180%. Now It\u2019s XRP\u2019s Turn<\/a><\/h6>\n

Indeed, the last three times this signal appeared on the Bitcoin charts, a strong bounce followed each and every time.<\/p>\n

Bitcoin Could See Bounce Here: Key Signal<\/strong><\/h2>\n

The signal is the breaking of the lower Bollinger Band on the daily chart of Bitcoin, specifically on Coinbase.<\/p>\n

The Bollinger Bands, as described by Investopedia<\/a>, is a “technical analysis tool defined by a set of lines plotted two standard deviations (positively and negatively) away from a simple moving average.”<\/p>\n

As Big Cheds, a popular crypto trader recently remarked<\/a>, BTC just breached the lower band for the first time in 2020. This is relevant was the three previous cases of this happening were followed by relatively strong bounces.<\/p>\n

    \n
  • In December, a drop below the technical level when Bitcoin fell to $6,400 led to an immediate bounce the next day towards $7,000.<\/li>\n
  • In November, a brief break below this level led to a 10% rally in the following days.<\/li>\n
  • And in October, a brief close under this level was followed by the infamous China pump that took Bitcoin to $10,000 from $7,300.<\/li>\n<\/ul>\n
    \n

    $BTC<\/a> #Bitcoin<\/a> Daily chart- Breaching lower BB for the first time in 2020 pic.twitter.com\/e4txlesCGW<\/a><\/p>\n

    — Cheds (Trading Quotes) (@BigCheds) February 25, 2020<\/a><\/p><\/blockquote>\n