Trend-following indicators for Bitcoin shift to a bullish profile
Key points
- Bitcoin's trend-following indicators have shifted to a clearly bullish profile, with its relative trend score climbing to 8 and its absolute trend score holding firm at 10.
- Similar trend signals led to an average Bitcoin gain of 1,197%, whereas losses averaged -12.4%.
- Despite the accumulating bullish evidence, Bitcoin remains a highly sentiment-sensitive asset capable of severe drawdowns.
Trend-following indicators for Bitcoin shift to a bullish profile
In a report two months ago, I highlighted a bull regim e shift in Bitcoin's Relative Strength Inde x (RSI), suggesting additional upside price action. Bitcoin has rallied nearly 14% after the signal, lifting its relative trend score to 8, while its absolute trend score held firm at 10, solidifying a favorable trend backdrop for the digital currency.

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