Bullish Bitcoin Signal Identified By Analyst

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.

Cow Jones@CryptoCowJones

BTC has NEVER had failed Kumo breakout in its entire history on the weekly chart #bitcoin

View image on Twitter
Expert Asked on November 20, 2019 in Bitcoin.
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