Is Bitcoin (BTC) Crash Really Over?
Introduction In today's update, we'll explore a powerful indicator to measure Bitcoin's bull runs. When this indicator turns green on a weekly timeframe chart, it signals a bullish trend. Conversely, when it turns red, it indicates a long-term bearish trend. Let's dive into the current market conditions and analyze some key indicators. Supertrend Indicator: Historical Performance of Supertrend Indicator: Green Signal : Indicates a bull run. For example, in May 2019, the indicator turned green, signaling a bullish trend that followed until a brief period of red during the COVID-19 crash. Red Signal : Signals a bearish trend. Historical data shows significant drops during these periods, such as the long bearish trend post-December 2017. ADX and Directional Movement Index The Average Directional Index (ADX) and the Directional Movement Index (DMI) provide additional insights: Negative Directional Index (Red) : Currently crossing above the Positive Directional Ind