Bitcoin (Bitcoin) It was close to $50,000 on December 22, because people began to hope that the price adjustment might end.

Once it breaks through $50,500, it’s bullish — analyst

Data from Cointelegraph Markets Pro and Transaction view It shows that BTC/USD hit a high of 49,600 US dollars on Bitstamp-this is the highest point since December 13.

One Cross-encryption promotion The Turkish lira’s turmoil on Monday lingered in spirit as Bitcoin and altcoins kept going higher, and now attention is focused on the New Year and price levels above $50,000.

“The first breakthrough occurred in Bitcoin. However, we still need to break through enough levels to show that we are bullish,” Cointelegraph writer Michaël van de Poppe Announce overnight.

“Overall, it has broken through US$505,000 to US$515,000, and I have no doubt about it. In addition, 2022 should be a great year in general.”

#BTC

So see what we have here, ladies and gentlemen.

Our first green bar has appeared!

Now we need to ensure that this potential reversal will not be confirmed. If the next bar does not confirm a reversal, then we should continue to break the descending triangle ? https://t.co/MrbkrAqyXh pic.twitter.com/OliTqKrafx

-John Wick (@ZeroHedge_) December 21, 2021

Since $50,000 constituted psychological resistance, others turned to on-chain indicators to further prove Bitcoin’s potential strength.

This includes fund manager Dan Tapiero (Dan Tapiero), who noticed that the Moving Average Convergence Divergence (MACD) indicator has historically been a bullish signal for buying timing.

“When the most unexpected/tired bulls give up, the rebound starts,” he said Summarize.

MACD involves the relationship between the two exponential moving averages of BTC/USD and rebounds from a downtrend before the price rises.

The last time a buy signal appeared was at the end of September, just before Bitcoin rose to an all-time high more than a month later.

Sentiment index almost doubled

For investors, a more encouraging sign is that altcoins are beginning to achieve more significant daily gains before Wednesday.

related: 12/20 Price analysis: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, AVAX, DOT, DOGE

Ether (Ethereum) Is the largest altcoin by market capitalization, maintained at $4,000, while the outstanding Terra (LUNA) is up 16% at the time of writing.

Rippled Ripple Token transaction prices have increased by 9%, and none of the top 10 cryptocurrencies by market capitalization are red.

“If I want to position myself well, I want to buy cryptocurrency at this stage,” van de Poppe Add to.

“The market sentiment is still not the best, and many altcoins have fallen a lot, some are even down 80% from their ATH. Adoption even in terms of growth and price, these tokens are in a strong support area.”

This Crypto Fear and Greed Index It rose sharply overnight, jumping from 27 to 45, but still described the market as being in a “fear” mode.