Bitcoin price is above $60,000 and bears are in disbelief. But they shouldn’t be, as bulls have long been in control of the trend. It had only been lower timeframes that had flipped bearish, while the most dominant trend had remained up. According to the Supertrend, all of the most important timeframes have since flipped bullish, with buy signals appearing across the board. Here is a closer look at what the tool says, the only remaining timeframe without a buy signal, and more information on what the Supertrend technical indicator does. What The Supertrend Says About The Bitcoin Bull Run When Bitcoin and other cryptocurrencies are trending, they move fast and hard. During uptrends, coins post tens to hundreds of thousand percent rallies. Downtrends then wipe out 99% of that progress. The cycle then repeats and it happens all over again. Trends take place across multiple timeframes. For example, a short-term downtrend on daily timeframes might last weeks, while a monthly downtrend could take years to turn around. The same is true for the opposite direction, which is what bears missed this time around. Related Reading | How 90-Year Old Market Wizardry Predicted The Bitcoin Breakout Bitcoin price flipped bearish on daily and even weekly timeframes, but failed to flip fully bearish on the monthly timeframe. That is at least according to a technical indicator called the Supertrend, which gives fairly straightforward buy ...
