Бычье пересечение на графике биткоина предвещает новый ралли Translation: Bullish crossover on Bitcoin chart predicts a new rally

A bullish crossover has formed on the chart of the first cryptocurrency, which in 2020 preceded a 600% surge in the asset, as noted by the trader Coinvo Trading.

According to his observations, the stochastic RSI related to the yields of the US 10-year Treasury bonds (US10Y) and China’s 10-year government bonds (CN10Y) has crossed the corresponding levels on Bitcoin’s weekly chart.

The expert referred to this signal as «the most precise indicator of a bullish rally» for digital gold. Throughout its history, this pattern has appeared four times, each followed by a price increase for the coin.

In 2021, Bitcoin reached an all-time high of $69,000 after a similar signal.

Analyst Matthew Highland has also predicted an upward trend for the first cryptocurrency based on the behavior of the US Dollar Index (DXY).

«The last two times the DXY dropped below the 96 level, Bitcoin’s price skyrocketed: from $2,000 to $20,000 within six months and from $10,000 to $64,000 over nine,» he wrote.

Currently, the index stands at 97.

At the same time, Bitcoin continues to trade in a sideways range, hovering around $88,000 at the time of writing.

Meanwhile, gold has been reaching historical highs. On January 26, its price exceeded $5,000 per ounce for the first time.

The divergence in the performance of these two assets is becoming more evident; previously, the correlation between them had dropped to zero. This phenomenon was last observed in mid-2022.

Analysts at Swan urged investors not to view this as a negative signal. They believe this decoupling is part of a familiar market model, where the precious metal traditionally acts as a «forerunner.»

During such periods, the first cryptocurrency might remain in a consolidation phase for months before making a «powerful and sharp» upward move.

A similar viewpoint was shared by Michael van de Poppe, founder of MN Trading. He noted that every time the price ratio of Bitcoin to gold fell to extremely low levels, it indicated the establishment of a fundamental bottom in the crypto market.

«This happened at the lows in 2015, 2018, and 2022, and a similar situation is occurring now. This suggests that a new cycle is on the horizon and the end of the bear market is indeed close,» the analyst explained.

Van de Poppe identified the $88,500 level as crucial. If the asset fails to hold above this mark, it will continue to test lower values.

However, he emphasized that the current surge in the precious metals market «cannot last forever.» Investors are seeking other opportunities for capital reallocation, one of which is traditionally Bitcoin.

Joe Barnett, Vice President of Bitcoin Strategy at Strive, also pointed to the formation of a bottom.

He mentioned that January could become the fourth consecutive negative month for digital gold, similar to what happened during bear markets in 2011, 2014, and 2018.

Notably, analysts from Santiment have pointed to a decline in stablecoin capitalization as a negative signal for the digital asset sector.