One analyst lists 21 factors that are favoring Bitcoin’s price rise while listing only 4 bearish signs

Bitcoin (BTC) traders may experience “extreme panic,” but one analyst claims that Practically all technical indicators point to a price increase.

In conversation with Cointelegraph on December 16 filbfilb, co-founder of the Decentrader trading platform, listed more than 20 signs suggesting that the upward momentum for Bitcoin should be imminent.

There are “enough reasons” to think about an increase in Bitcoin

The BTC / USD pair gained in stocks late Wednesday Thanks to the comments on the Federal Reserve’s policy.

The pair hit $ 49,300 and began consolidating below the $ 49,000 markat which point it remains at the time of this writing.

However, sentiment has yet to show confidence in the near-term future of the BTC price movement. The Cryptocurrency Fear and Greed Index is only 29/100, something that filbfilb thinks is wrong.

“Basically, I think there is enough reason to believe there might be an increase and I think no trading exposure does not fit the analysis. “he summarized.

The accompanying bull trigger list comprised 21 items, and it included vendor exhaustion, miners’ accumulation, and a selection of on-chain metrics.

In the bear field, however, there were only four: Loss of the 20-week moving average and the 50- and 100-day moving averages, bearish signs on the 3-day chart and a “terrible” weekly chart.

Stochastic RSI follows a rare soil structure

Your comments match those of other people in the field. The popular Twitter account TechDev highlighted several other factors that support an impending price hike.

#BTC 3 day hidden bull div which I think is ready to play out with an RSI just over 40, an imminent stab RSI cross, all after a previous bear div marked local distribution high. pic.twitter.com/warqTBc27d

to???? TechDev (@ TechDev_52) December 15, 2021

3 days of hidden bullish BTC splits are preparing, in my opinion, to play with the RSI just above 40, an upcoming stochastic RSI crossover, all after a local distribution high marked by bearish divisions.

One of them, The Stochastic Relative Strength Index (Stoch RSI) has proven to be a bullish flag in Bitcoin’s history at local lows.

For Jeff Ross, Founder and Managing Director of Vailshire Capital Management, The stochastic RSI is now the chart to watch out for.

What I’m watching …

Check out the last four stochastic RSI (14) lows since late 2019 on the weekly #bitcoin Diagram.

We’re at or near # 5.

Shoot your shot. pic.twitter.com/l96rASOWXq

to???? Dr. Jeff Ross (Pleb Advisor) (@VailshireCap) December 14, 2021

What I’m Seeing … Check out the last four stochastic RSI (14) lows since late 2019 on the weekly Bitcoin chart. We’re at or near # 5. Dare to.