BLOOMBERG: BITCOIN PRICE EXPECTS SHORT-TERM RALLY

BLOOMBERG: BITCOIN PRICE EXPECTS SHORT-TERM RALLY

Soon the price of bitcoin will start a short-term cycle of increase, says Bloomberg. In their opinion, this is indicated by the low value of the GTI Global Strength Technical Indicator and trading at a level slightly above the lower limit of the GRI VERA Trend Signals indicator.

Key technical parameters signal that the price of bitcoin (BTC) has probably already reached the “bottom” and is looking for a short-term increase. This opinion was expressed by analysts of Bloomberg.

GTI Global Strength Technical Indicator is 35.6, which is the lowest level since December and is “approaching the level of resale”. The parameter means that the BTC price has received strong support at $3000-$3100 and is stabilizing at $3500.

Bloomberg allowed the possibility of a short-term rally based on the GRI VERA Trend Signals indicator, which is used to determine price trends in a variety of time intervals.

Although on January 22nd, the value of the VERA indicator broke the lower limit, the BTC price played a fall and returned to trading at a level slightly higher than the lowest VERA indicator. According to Bloomberg, it also indicates the imminent onset of the “rally”.

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