{"id":33783,"date":"2023-12-05T23:52:35","date_gmt":"2023-12-06T03:52:35","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=33783"},"modified":"2023-12-05T23:52:35","modified_gmt":"2023-12-06T03:52:35","slug":"8-green-candles-heres-what-happened-to-bitcoin-the-last-time-it-appeared","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/05\/8-green-candles-heres-what-happened-to-bitcoin-the-last-time-it-appeared\/","title":{"rendered":"8 Green Candles: Here\u2019s What Happened To Bitcoin The Last Time It Appeared"},"content":{"rendered":"

Bitcoin is on an impressive run<\/a> and finally broke above $40,000<\/a> for the first time in over a year. This run has been in the making for a few months with the climax coming between the months of October and December. As a result, Bitcoin has now recorded 8 green candles on the weekly chart and historical performance suggests that this is bullish for the price.<\/p>\n

8 Green Candles For BTC On The Weekly Chart<\/h2>\n

In the last two months, the Bitcoin price has consistently closed in the green, a trend that seemed foreign only a few months ago. This green trend has continued through November which was expected to be a bearish month and with the start of December, Bitcoin saw another green weekly close.<\/p>\n

During this time that the BTC price<\/a> has seen consistent green closes on the weekly chart, the price has gone from as low as $27,000 to as high as $42,000. This means that the price has risen approximately 50%, adding around $15,000 to its value in this two-month period.<\/p>\n

This comes amid a time of polarizing views between the bulls and the bears despite the bullish indicators continuously winning out. The gains of the last eight weeks have completely washed out a year of intense bearish headwinds and have seen the Bitcoin price completely recover all its losses from the FTX collapse<\/a>, as well as its far-reaching contagion.<\/p>\n\n

What Happens To Bitcoin The Last Time?<\/h2>\n

With Bitcoin, historical performance can often be a good pointer to future performance, especially when important trends are being repeated. For example, the last time that the digital asset confirmed 8 green candles on the weekly chart, the price exploded not too long after.<\/p>\n

This is seen back in 2017 right at the start of the bull market where the price went from around $1,100 to $2,900 before a slight pullback. However, once the pullback was over, the price would begin another uptrend that would send Bitcoin above $10,000 for the first time ever.<\/p>\n

If this trend were to repeat itself this time around, then a pullback from this level is likely, but not expected to last. The resulting pump from the pullback will likely be the confirmation of the bull market, leading to a new all-time high price<\/a>.<\/p>\n

Bitcoin has also done incredibly well following 8 green candles on the daily charts. As reported by NewBTC<\/a>, the Bitcoin price has also risen quickly when these green candles appear. As such, it is an all-around bullish signal for Bitcoin.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin is on an impressive run<\/a> and finally broke above $40,000<\/a> for the first time in over a year. This run has been in the making for a few months with the climax coming between the months of October and December. As a result, Bitcoin has now recorded 8 green candles on the weekly chart and historical performance suggests that this is bullish for the price.<\/p>\n

8 Green Candles For BTC On The Weekly Chart<\/h2>\n

In the last two months, the Bitcoin price has consistently closed in the green, a trend that seemed foreign only a few months ago. This green trend has continued through November which was expected to be a bearish month and with the start of December, Bitcoin saw another green weekly close.<\/p>\n

During this time that the BTC price<\/a> has seen consistent green closes on the weekly chart, the price has gone from as low as $27,000 to as high as $42,000. This means that the price has risen approximately 50%, adding around $15,000 to its value in this two-month period.<\/p>\n

This comes amid a time of polarizing views between the bulls and the bears despite the bullish indicators continuously winning out. The gains of the last eight weeks have completely washed out a year of intense bearish headwinds and have seen the Bitcoin price completely recover all its losses from the FTX collapse<\/a>, as well as its far-reaching contagion.<\/p>\n

What Happens To Bitcoin The Last Time?<\/h2>\n

With Bitcoin, historical performance can often be a good pointer to future performance, especially when important trends are being repeated. For example, the last time that the digital asset confirmed 8 green candles on the weekly chart, the price exploded not too long after.<\/p>\n

This is seen back in 2017 right at the start of the bull market where the price went from around $1,100 to $2,900 before a slight pullback. However, once the pullback was over, the price would begin another uptrend that would send Bitcoin above $10,000 for the first time ever.<\/p>\n

If this trend were to repeat itself this time around, then a pullback from this level is likely, but not expected to last. The resulting pump from the pullback will likely be the confirmation of the bull market, leading to a new all-time high price<\/a>.<\/p>\n

Bitcoin has also done incredibly well following 8 green candles on the daily charts. As reported by NewBTC<\/a>, the Bitcoin price has also risen quickly when these green candles appear. As such, it is an all-around bullish signal for Bitcoin.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-33783","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33783","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=33783"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33783\/revisions"}],"predecessor-version":[{"id":33793,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33783\/revisions\/33793"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=33783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=33783"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=33783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}