Bitcoin (BTC) On Verge Of Full-On Bull Rally If Historical Signal Has Merit

Bitcoin (BTC) has finally begun another leg higher. After failing to surmount $8,300 for two weeks, the cryptocurrency suddenly burst from $8,000 on Sunday, rocketing to $8,900 in under an hour.

With this, Bitcoin’s weekly chart, a great gauge of medium to long-term price action, saw four weekly candles in a row that closed above the 50-week moving average. While this doesn’t sound significant, analyst Nunya Bizniz notes that this series of events has never failed to initiate a bull run in Bitcoin’s ten years as a liquid asset.

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