Bitcoin Flashes Buy Signal After Price Closed 2nd Green Month Candle In A Row

Quick Summary:

This market cycle looks to be replicating the 2021 bull run pattern, as BTC recorded three straight monthly green candles between January and March earlier this year before it recorded an accumulation phase.  Therefore, as TradingShot explained, this is likely a good buying opportunity since the Bitcoin price could record a third straight monthly green candle in November.

He made this assertion based on the multi-year chart, which he also claimed shows that the market continues to rally whenever Bitcoin records these two straight green candles.  The crypto analyst revealed that the Bitcoin price recorded three straight green candle occasions and a clear accumulation phase in the 2021 bull run.

Another reason why Bitcoin would likely experience a monthly green candle in November is because the flagship crypto has enjoyed monthly positive returns most of the time it closed October in the green.  The Bitcoin price outlook for November also looks bullish because of the upcoming US elections.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: Btc Bitcoin Bitcoin Crypto Btcusd Bitcoin price

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-02 @ 21:00:31 (2 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 459 words

Reading Time: 3 minutes read

Sentences: 65 lines

Sentence Length: 8 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 23371814

View Article Analysis

About NewsBTC

Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 8 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 9 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #102

Publisher Details

Frequently Asked Questions