Bitcoin Flashing First Buy Signal Since March Covid Collapse
- Last time it flashed, token gained about 200% in 5 months
- Cryptocurrency has risen about 100% since its March plunge
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After wavering around $10,000 for weeks, Bitcoin could be poised for a breakout, technical indicators suggest.
Based on the GTI Global Strength Indicator, Bitcoin flashed its first buy signal since its March coronavirus-induced crash, after which it rallied 200% over a five-month period. Additionally, other gauges suggest any subsequent rally will need to take the coin over $12,000 for it to see a new high for the year.