BTC Price May Reverse as Top Bullish Signal Appears

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Traders spotted multiple signals that suggest Bitcoin could be gearing up for another bull run, but onchain data still highlights weakness in the market.

Bitcoin traders highlighted multiple signals, predicting a “massive” price upswing. Still, onchain data shows that BTC price recovery could be delayed as market participants take a more defensive stance.

Bitcoin surged 600% in 2021 after a similar key bullish cross was confirmed. 

Onchain data points to persistent sell-side pressure, suggesting that a BTC price recovery might take time.

BTC bullish cross hints at a bull run ahead
Analyst Coinvo Trading spotted the appearance of a bullish cross involving the Stochastic RSI of the United States 10-Year Treasury Yield (US10Y) and China 10-Year Government Bond Yield (CN10Y) against Bitcoin’s weekly chart.


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