{"id":651284,"date":"2024-11-02T21:00:31","date_gmt":"2024-11-02T21:00:31","guid":{"rendered":"https:\/\/wncen.com\/?p=651284"},"modified":"2024-11-02T11:34:03","modified_gmt":"2024-11-02T11:34:03","slug":"bitcoin-flashes-buy-signal-after-price-closed-2nd-green-month-candle-in-a-row","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-flashes-buy-signal-after-price-closed-2nd-green-month-candle-in-a-row\/","title":{"rendered":"Bitcoin Flashes Buy Signal After Price Closed 2nd Green Month Candle In A Row"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The <\/span><a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-ath-soon\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">Bitcoin price<\/span><\/a><span style=\"font-weight: 400\"> enjoyed its second consecutive green candle in October after closing the month with a 10% price gain. Crypto analyst TradingShot revealed why this development was a positive going forward and is a good buy signal for those looking to invest in the flagship crypto.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/ethereum-claims-address-dominance-with-43-lead-will-it-keep-rising\/\" target=\"_blank\" rel=\"noopener \">Ethereum Claims Address Dominance With 43% Lead\u2014Will It Keep Rising?<\/a><\/div>\n<h2><b>Bitcoin Triggers Buy Signal After Price Hit Second Green Month Candle\u00a0<\/b><\/h2>\n<div class=\"flex max-w-full flex-col flex-grow\">\n<div class=\"min-h-8 text-message flex w-full flex-col items-end gap-2 whitespace-normal break-words [.text-message+&amp;]:mt-5\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"dc3588bc-7010-4339-b345-f1c78e327d24\" data-message-model-slug=\"gpt-4o\">\n<div class=\"flex w-full flex-col gap-1 empty:hidden first:pt-[3px]\">\n<div class=\"markdown prose w-full break-words dark:prose-invert dark\">\n<p><span>TradingShot mentioned in a <\/span><a href=\"https:\/\/www.tradingview.com\/chart\/BTCUSD\/HqDoDY5o-BITCOIN-Closed-2-straight-green-1M-candles-after-7-months\/\" target=\"_blank\" rel=\"noopener nofollow\"><span>TradingView post<\/span><\/a><span> that it is always a good signal to buy whenever the Bitcoin price closes two consecutive green monthly candles. He made this assertion based on the multi-year chart, which he also claimed shows that the market continues to rally whenever <\/span><a href=\"https:\/\/wncen.com\/news\/bitcoin\/how-to-trade-bitcoin-during-the-us-election\/\" target=\"_blank\" rel=\"noopener \"><span>Bitcoin<\/span><\/a><span> records these two straight green candles.\u00a0<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><span style=\"font-weight: 400\">The crypto analyst revealed that the Bitcoin price recorded three straight green candle occasions and a clear accumulation phase in the <\/span><a href=\"https:\/\/bitcoinist.com\/expert-anticipates-grand-massive-bitcoin-upsuge\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">2021 bull run<\/span><\/a><span style=\"font-weight: 400\">. Meanwhile, in the 2017 bull run, the Bitcoin price recorded numerous straight green candle occasions. This market cycle looks to be replicating the 2021 bull run pattern, as BTC recorded three straight monthly green candles between January and March earlier this year before it recorded an accumulation phase.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Therefore, as TradingShot explained, this is likely a good <\/span><a href=\"https:\/\/bitcoinist.com\/if-youre-yet-to-buy-bitcoin-crypto-analyst-says-this-is-the-level-to-watch\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">buying opportunity<\/span><\/a><span style=\"font-weight: 400\"> since the Bitcoin price could record a third straight monthly green candle in November. Another reason why Bitcoin would likely experience a monthly green candle in November is because the flagship crypto has enjoyed monthly positive returns most of the time it closed October in the green.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The Bitcoin price outlook for November also looks bullish because of the upcoming US elections. The aftermath of the elections is expected to bring certainty to the market, which could cause Bitcoin to rally. Economist <\/span><a href=\"https:\/\/wncen.com\/news\/bitcoin\/how-to-trade-bitcoin-during-the-us-election\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">Alex Kr\u00fcger predicted<\/span><\/a><span style=\"font-weight: 400\"> that the BTC could rally quickly to $90,000 if Donald Trump wins. Meanwhile, he mentioned that there is a chance that the flagship crypto could drop to as low as $65,000.\u00a0<\/span><\/p>\n<figure style=\"width: 1835px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/1cqW9r3h\/\" width=\"1835\" height=\"883\"><figcaption class=\"wp-caption-text\">Bitcoin is currently trading at $69,155. Chart: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/figcaption><\/figure>\n<h2><b>Price Needs To Stay Above $69,000 In The Meantime<\/b><\/h2>\n<p><span style=\"font-weight: 400\">In an X post, popular analyst <\/span><a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-sharp-crash-67000\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">Justin Bennett<\/span><\/a><span style=\"font-weight: 400\"> mentioned that the drop in Bitcoin&#8217;s price below $70,000 isn\u2019t a good look, but the Bulls&#8217; last line of defense is $69,000. He remarked that the $65,000 lows are next if that price level fails to hold on the high time frames.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Justin Bennett added that he doubts that the equal highs from March and October <\/span><a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-to-new-ath\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">near $73,700<\/span><\/a><span style=\"font-weight: 400\"> will go unchallenged. However, before that happens, he suggested that the Bitcoin price could retest the lows at around $65,000.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Crypto analyst Ali Martinez has also revealed that the Bitcoin price needs to <\/span><a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-to-new-ath\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">hold above $69,000<\/span><\/a><span style=\"font-weight: 400\"> to reach a new all-time high (ATH). He predicted that BTC could rally to $78,000 if the $69,000 level holds.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin-breaks-73000-yet-google-searches-stay-stagnant-is-hype-fading\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Breaks $73,000, Yet Google Searches Stay Stagnant\u2014Is Hype Fading?<\/a><\/div>\n<p><span style=\"font-weight: 400\">At the time of writing, the BTC price is trading at around $69,700, up almost 1% in the last 24 hours, according to <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">data<\/span><\/a><span style=\"font-weight: 400\"> from CoinMarketCap.\u00a0<\/span><\/p>\n<p><em>Featured image from Forbes, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bitcoin price enjoyed its second consecutive green candle in October after closing the month with a 10% price gain. Crypto analyst TradingShot revealed why this development was a positive going forward and is a good buy signal for those looking to invest in the flagship crypto.\u00a0 Related Reading: Ethereum Claims Address Dominance With 43% Lead\u2014Will It Keep Rising? Bitcoin Triggers Buy Signal After Price Hit Second Green Month Candle\u00a0 TradingShot mentioned in a TradingView post that it is always a good signal to buy whenever the Bitcoin price closes two consecutive green monthly candles. He made this assertion based on the multi-year chart, which he also claimed shows that the market continues to rally whenever Bitcoin records these two straight green candles.\u00a0 The crypto analyst revealed that the Bitcoin price recorded three straight green candle occasions and a clear accumulation phase in the 2021 bull run. Meanwhile, in the 2017 bull run, the Bitcoin price recorded numerous straight green candle occasions. This market cycle looks to be replicating the 2021 bull run pattern, as BTC recorded three straight monthly green candles between January and March earlier this year before it recorded an accumulation phase.\u00a0 Therefore, as TradingShot explained, this is likely a good buying opportunity since the Bitcoin price could record a third straight monthly green candle in November. Another reason why Bitcoin would likely experience a monthly green candle in November is because the flagship crypto has enjoyed monthly positive returns most of the time it closed October in the green.\u00a0 The Bitcoin price outlook for November also looks bullish because of the upcoming US elections. The aftermath of the elections is expected to bring certainty to the market, which could cause Bitcoin to rally. Economist Alex Kr\u00fcger predicted that the BTC could rally quickly to $90,000 if Donald Trump wins. Meanwhile, he mentioned that there is a chance that the flagship crypto could drop to as low as $65,000.\u00a0 Price Needs To Stay Above $69,000 In The Meantime In an X post, popular analyst Justin Bennett mentioned that the drop in Bitcoin&#8217;s price below $70,000 isn\u2019t a good look, but the Bulls&#8217; last line of defense is $69,000. He remarked that the $65,000 lows are next if that price level fails to hold on the high time frames.\u00a0 Justin Bennett added that he doubts that the equal highs from March and October near $73,700 will go unchallenged. However, before that happens, he suggested that the Bitcoin price could retest the lows at around $65,000.\u00a0 Crypto analyst Ali Martinez has also revealed that the Bitcoin price needs to hold above $69,000 to reach a new all-time high (ATH). He predicted that BTC could rally to $78,000 if the $69,000 level holds. Related Reading: Bitcoin Breaks $73,000, Yet Google Searches Stay Stagnant\u2014Is Hype Fading? At the time of writing, the BTC price is trading at around $69,700, up almost 1% in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image from Forbes, chart from TradingView<\/p>\n","protected":false},"author":594,"featured_media":651290,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,679,1119,1144,6664],"class_list":["post-651284","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusd","tag-crypto"],"acf":[],"yoast_head":"\n<title>Bitcoin Flashes Buy Signal After 2nd Green Month Candle In A Row<\/title>\n<meta name=\"description\" content=\"The Bitcoin price enjoyed its second consecutive green candle in October after closing the month with a 10% price gain. 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. 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