Bitcoin has broken through its high, reaching a historic peak, continuing the overall trend. Bitcoin is the absolute leader in the digital currency field. Since April 7, Bitcoin has risen by 50%, breaking its historical high. Then, a significant bearish candle of 5% appeared for the first time. This aligns with the leading bearish candle strategy; after a 50% rise, the main force cannot simply sell off with one large bearish candle. Historically, after the first bearish candle appears for the leader, there is typically a 15% upward space.
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On November 25, 2024, after Bitcoin rose by 50%, a significant bearish candle of 5.2% appeared for the first time, followed by an increase of 18.3%.
On November 14, 2023, Bitcoin experienced its first significant bearish candle, followed by a 26% increase.
If this is not considered a significant bearish candle, then on December 11, 2023, Bitcoin had a 5.8% significant bearish candle, followed by a 19.8% increase.
On March 5, 2024, after a significant rise, Bitcoin had its first significant bearish candle, followed by an 18.4% increase.
A cryptocurrency analyst named Crypto Rover shared on Twitter that the Bitcoin daily chart formed a golden cross, with the 50-day moving average crossing above the 200-day moving average. This is a rare pattern that has only occurred 7 times in Bitcoin's history, each time signaling the arrival of a bull market.
On February 6, 2023, a golden cross appeared, followed by a 37.3% increase in Bitcoin.
On October 29, 2023, a golden cross occurred, followed by a 116.8% increase in Bitcoin.
On October 27, 2024, a golden cross appeared, followed by a 65% increase in Bitcoin.
On April 24, 2019, a golden cross occurred, followed by a 160.3% increase in Bitcoin.
On May 21, 2020, a golden cross occurred, followed by a 621.6% increase in Bitcoin.
On September 15, 2021, a golden cross occurred, followed by a 52.6% increase in Bitcoin.
In terms of news, Bitcoin continues to receive positive developments. Institutions are increasing their positions, policy support is present, the Trump family is increasing their holdings, and ETF funds are flowing in, etc.
BlackRock recently purchased $430.8 million worth of Bitcoin, demonstrating strong confidence from institutional investors in Bitcoin. BlackRock currently has an exposure of $20 billion to Bitcoin ETFs, coupled with a record total open interest in the options market, indicating that the long-term trend for Bitcoin remains upward.
Conclusion
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