Crypto analyst CrypFlow has identified three technical markers that he believes will signal the start of the next Bitcoin bull run. According to CrypFlow, the transition to a bullish market does not begin at the price bottom but requires specific chart confirmations. Currently, Bitcoin is trading at $71,750, having risen 4.3% in the past 24 hours, with an intra-day high of $72,379.
CrypFlow emphasizes that the bottom merely indicates where the price stops falling, not the start of a bull run. He highlights the importance of the 50-week SMA and the -14 wave trend level as indicators of market conditions. For a new bull cycle to commence, Bitcoin must break above its descending trendline, reclaim the -14 wave trend level, and move above the 50-week SMA. Until these conditions are met, Bitcoin remains in a corrective phase despite short-term rallies.
Crypto Analyst CrypFlow Identifies Key Indicators for Bitcoin Bull Run
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
