This BTC Indicator Makes It ‘Incredibly Easy’ to Know if Bitcoin Is in a Bull or Bear Market

According to a recent post by CryptoCon, there is one indicator that makes it very simple to determine if Bitcoin is in a bull or bear market – the Bollinger Band %. As CryptoCon explains, this measurement looks at the percentage of time Bitcoin’s price is above the upper Bollinger Band.

The Power of Bollinger Bands

Bollinger Bands are a type of statistical chart analysis that uses two bands plotted at two standard deviations above and below a simple moving average. When the price breaks above the upper band, it’s considered overbought, while a break below the lower band is seen as oversold. The percentage of time spent between the two bands indicates the overall trend.

According to CryptoCon, Bitcoin spent just 2 years and 7 months below the .88% threshold, indicating a bearish trend. However, in October 2020, Bitcoin crossed back above this critical .88% mark, suggesting the start of a new bull market.

Entering a New Bull Market

CryptoCon states that this indicator “told us that the last cycle, black swan and all, was bearish until October 2020.” The .88% threshold represents the shortest amount of time Bitcoin’s price stayed above that level in previous cycles.

Now that Bitcoin is back above .88%, CryptoCon believes “we have a long time to go with price action over the threshold this cycle.” He compares it to the 2015-2018 bull run and concludes “the cross is here, and we’re just getting started.”

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So in summary, this straightforward Bollinger Band metric makes it easy to visualize Bitcoin’s macro trends and indicates we’ve entered a new long-term bull market. CryptoCon sees plenty of room for growth based on historical patterns.

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Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.