Bloomberg recently published a new analysis of RIG trend lines related to Bitcoin. The trend lines represent a potential technical indicator of positive price movements in financial assets.
“This is the fourth time the momentum gauge crossed the RSI gauge this year; each was followed by a rise in Bitcoin’s price. The last time this occurred, in mid-August, the cryptocurrency’s price rose by 21 percent over the next three weeks”, Bloomberg said.
Due to the pattern, Bloomberg has suggested that a new bull run could be imminent for the cryptocurrency in the near future.
Stay updated here with how the cryptocurrency is tracking:
More Like this
- Bitcoin Watch: Can Bitcoin turn the crypto market from bear to bull?August 17, 2018
- Bitcoin Watch: Could Bitcoin be poised for a breakout? The GTI VERA Convergence Divergence Indicator thinks soAugust 24, 2018
- Bitcoin Watch: Crypto holds at USD6700 over the weekend, bulls still bullish on year-end forecastAugust 27, 2018
- Bitcoin Watch: Cryptocurrencies make mild recovery, growth plans for ETH to continueAugust 16, 2018
- Bitcoin Watch: Bitcoin falls to USD6700 while SEC delays ETF proposalAugust 8, 2018
- Bitcoin Watch: Bitcoin tests USD6500, most altcoins showing recoveryAugust 20, 2018
- Bitcoin Watch – Winklevoss twins eye Europe in potential expansion of Gemini exchangeSeptember 25, 2018
- Bitcoin Watch – Google to reenable crypto advertising in the US, JapanSeptember 28, 2018
- Bitcoin Watch: Bitcoin rallies close to USD7000, but ‘stablecoins’ see disruptionOctober 16, 2018
- Bitcoin Watch: Crypto remains range bound over the last week, volatility drops to 14 month lowAugust 21, 2018
- Bitcoin Watch: Crypto makes mild recovery, looks to hold above USD6500August 10, 2018
- Bitcoin Watch: Crypto drops to three week low while JPMorgan CEO remains criticalAugust 7, 2018