Bitcoin is About to Form a Pivotal Buy Signal Last Seen in Late July

Bitcoin is About to Form a Pivotal Buy Signal Last Seen in Late July


Bitcoin has seen a strong rally over the past few days after weeks of consolidation. The leading cryptocurrency has gained around $1,000 from last week’s lows near $10,400.

This rally has allowed the technical case for further upside to continue to build. One crypto-asset analyst recently noted that Bitcoin is about to form a pivotal buying signal that was last seen in late July, in the midst of the strong uptrend that took the asset as high as $12,500. Should history repeat, Bitcoin should continue to ascend in the days and weeks ahead.

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Josh Olszewicz, a crypto-asset analyst, recently shared the chart below. It shows that the cryptocurrency’s one-day Ichimoku Cloud is about to see a TK Cross, when the line in blue crosses above the line in red. The Ichimoku Cloud is a popular technical indicator that shows

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