Bull Market Is Coming? Trend Reversal Signs

Even though Bitcoin dipped after the news of BlockFi’s bankruptcy was announced, there is strong support just under the $16K area. In fact, things are looking pretty good. Is a trend reversal happening? In this article, we will look at some indicators to find out.

Trading volume

First, let’s look at the candle chart from Coinbase. As we can see, the high sell volume we saw recently could signal a trend reversal. In the past, very high sell volume was followed by an upwards move after the Bitcoin price had reached a local…