Bull-run incoming…?

Cryptocurrency analyst and trader @CryptoCowJones stated that the Bitcoin price has given a signal which has never previously failed. This is an upward breakout of the Kumo cloud.

The Kumo cloud represents resistance. It is created by two lines whose relationship is very similar to a long- and short-term moving average (MA). Therefore, if the short-term line is above the long-term one, the cloud is green — while when the opposite is true the cloud is red (grey in the tweet).

Let’s analyze this signal.