Signs and indicators supporting Bitcoin's price increase?
Bitcoin's weekly candle closed with a green Doji candle and there was buying pressure pushing the price up at the end of the week. Of which, 5592 Bitcoins were withdrawn from exchanges last week. Spot Bitcoin ETF trading volume was concentrated at the beginning of the week and the end of the week. Here are some positive signals for the market:
1/ According to the MACD Indicator on the W1 timeframe, the MACD histogram shows signs of turning green in the next 1-2 weeks. Historical data shows that every time Bitcoin's MACD Histogram (W1) turns green, Bitcoin often enters a Bull-Run phase.
2/ Some Market Makers have loaded stablecoins onto exchanges, indicating that there may be buying pressure for Bitcoin and Altcoins in the short term.
3/ Bitcoin Dominance is at Resistance and has retested the uptrend line many times and may soon break out of this line, causing Bitcoin Dominance to decline, creating conditions for altcoins to increase in price more strongly. USDT Dominance also shows signs of decline to support the Bull Market.
