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Hidden Bullish Divergence Hints at Major Breakout, Bitcoin’s Secret Signal?
A recent analysis by Javon Marks has highlighted a hidden bullish divergence in the Bitcoin market, which could signal a significant breakout and potentially lead to a massive price surge. According to the data, this indicator has previously led to nearly 90% price gains.
The observation is centered around the fact that Bitcoin’s price has been forming a series of higher lows, indicating an increased resilience in the face of market fluctuations. This development is supported by recent events, where the price remained steady or even rose despite market swings. Additionally, previous instances of this indicator have historically preceded notable upward movements.
Another crucial aspect to consider is the recent correction that brought Bitcoin close to a significant trendline. This stabilization near the line could potentially be an early sign of a forthcoming breakthrough.
Bitcoin’s dominance has also been steadily rising since mid-2022, forming higher highs and maintaining an upward trajectory. However, it recently faced strong resistance from a historical zone (purple box). This level has historically triggered selling pressure, resulting in short-term pullbacks.
At the moment, Bitcoin’s dominance is facing rejection at this trendline but shows signs of potential weakness with a downward projection suggesting that the market may be entering a phase of temporary weakness before another significant surge.
Source: https://cryptonewsland.com/hidden-bullish-divergence-hints-at-major-breakout-bitcoins-secret-signal/
