Bitcoin's Long-Term Technical Indicators Point to Possible Gains
- Directional Movement Index shows potentially bullish signals
- Largest cryptocurrency down more than 65% from all-time high
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Bitcoin bulls are in for some long-awaited good news: technical indicators show the biggest cryptocurrency could be poised for gains.
A look at the long-term trend lines in Bitcoin’s Directional Movement Index (DMI) shows it entered a new bullish phase. In addition, the price trends broke out of their VERA band upper limit, widely considered an encouraging sign. The digital token could see a rise as it approaches year-end.