Bitcoin is proving to be in an undeniably bullish market trend according to Adrian Zdunczyk, Chartered Market Technician, and founder of The Birb Nest. Through a Twitter thread, Adrian presented many evidence-based reasons behind this observation. Based on decades of financial market analysis, it was determined that in pre-election years the markets often perform their best, with a probability of success at 98.8%. In relation to the Bitcoin market, Adrian utilized a 200-day moving average to reflect a dominant bull trend, and encouraged traders to take this opportunity.

Adrian based his analysis on the John R. Hill & George Pruitt recommendations of trend-following breakout strategies. He also noted that corrections in the Bitcoin market are expected due to market sentiments, and traders should use these drops as buying opportunities. An area of particular interest was found to be around the $26,500 to $27,000 Bitcoin price level, marking the area of recent dominance by bulls.

In conclusion, the evidence speaks for itself. Utilizing decades of market analysis and trade strategies, Adrian was able to determine the current trend of Bitcoin is undeniably bullish, and traders should capitalize on this market situation. He warned, however, against trading counter the market trend, noting it could lead to significant losses, and readers must do their research and due diligence.



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