Bitcoin finds the traffic light on a steady green light

There are different types of signals in the financial markets, which arise from the statistical and fundamental interpretation of the price action of an asset or financial instrument, these signals indicate actionable buy or sell suggestions for investors.

Basically, a signal indicates the entry or exit of a financial market and is based on emerging chart patterns, as well as fundamental guesses that reveal key levels or points to take an entry or exit position in the market.

These signals in the markets can be compared with the different types of signals that traffic lights give to both pedestrians and drivers of vehicles, if we consider that traffic lights emit signals with beaconing and circumstances of passage without any danger of accidents.

When a traffic light is on a steady green light, it is a signal for the driver to get into gear, in other words, it is a signal to start crossing the road without further danger, now extrapolating this action to the cryptocurrency market is to interpret that the market is in an uptrending green candlestick cycle that will likely take Bitcoin to the next break of $100,000.

It is worth mentioning that Bitcoin has been behaving like a traffic light, presenting a steady green light, an element that has resulted in a consolidation of the price above $96,000, which even in the last three weeks has become a zone of remarkable stability.

Using our retrospective model, it can be clearly seen that the cycle that Bitcoin has been marked day after day in fixed green light, is a similar action to the previous bullish cycle where they were also at similar levels, therefore, it is intuitive that the next target for Bitcoin will probably be to exceed $100,000 and seek a new all-time high.

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The cover image was designed by the author: @lupafilotaxia, incorporating the public domain image background: Source / Author: Mohamed_hassan, 2020