Ah, Bitcoin. The cryptocurrency that just can’t seem to make up its mind. One minute it’s soaring to new heights, the next it’s crashing back down to earth faster than a lead balloon. But fear not, dear reader, for the bulls may finally be back in control of this wild ride.
Yes, you heard that right. According to some fancy technical indicator called the Average Directional Index (ADX), a new bullish trend is emerging in the world of Bitcoin. So put on your cowboy hat and saddle up, because we might just be in for another wild bull run.
But what exactly does this ADX thingamajig do? Well, according to its creator J. Welles Wilder Jr., it measures trend strength and tells us whether those pesky bulls or bears are calling the shots in the market.
If the ADX reading goes above 20, it means that those bullish bovines are running amok and causing all sorts of chaos. And wouldn’t you know it – our trusty ADX has indeed soared past 20 once again! The last time this happened was way back in August 2020 before Bitcoin went on a 450% rally spree.
Now I’m no math whiz, but if history were to repeat itself (which let’s face it rarely happens with crypto), we could be looking at a price per coin around $200,000! That’s enough money to buy yourself your very own private island made entirely out of NFTs!
But hold onto your hats folks because each trend behaves differently and tops out at different ADX readings. So while $200k sounds like a dream come true for every HODLer out there, let’s not count our Bitcoins before they hatch.
And if you’re still scratching your head wondering how on earth these indicators work – don’t worry! It’s as simple as pie (or should I say Pi?). If the DI+ is above the DI-, then those bullish bulls are charging ahead like there’s no tomorrow. On the other hand, if DI- takes charge over DI+, then those grizzly bears have taken control and are ready to maul prices into oblivion.
But wait – there’s more! Not only is our beloved ADX confirming this newfound bullish trend with a reading above 20; but also our good old friend DI+ is sitting pretty at an impressive 36! That’s even higher than when Bitcoin went on its last joyride back in August 2020!
So what does all this mean for us mere mortals who struggle with basic arithmetic? Well my friends – buckle up because things might just get crazier from here on out!
In conclusion: Is Bitcoin about to embark on another epic bull run? Are we going straight to Pluto or beyond? Only time will tell my friends…only time will tell.
Oh and by the way – did I mention that Elon Musk tweeted about Dogecoin again?
Disclaimer: This article contains humor intended for entertainment purposes only and should not be considered financial advice or investment recommendations. Always do your own research before making any investment decisions.
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