Bitcoin is forming a pivotal buying signal after weeks of consolidation. The cryptocurrency pushed higher over the past 10 days, which allowed this indicator to trend higher to form the buying signal seen today.
Josh Olszewicz, a crypto-asset analyst, recently noted that the cryptocurrency formed a bullish TK Cross as per the Ichimoku Cloud indicator.
The indicator is a multi-faceted indicator that shows important price levels along with the trend of the asset being analyzed.
The last time this signal was seen was amid the late-July rally that took Bitcoin from the $9,000s to $11,000 and beyond.
This is important as it suggests that the medium-term BTC trend is bullish. It is somewhat of a lagging indicator that follows Bitcoin’s price …