Bitcoin All-Time Highs Expected in Two Months, Says Analyst
A well-known crypto analyst suggests that Bitcoin (BTC) could reach new all-time highs within the next two months. The analyst, known as TechDev, reveals that Bitcoin’s on-balance volume (OBV), a trend indicator that uses volume flow to predict price changes, is signaling the possibility of new highs for BTC.
The OBV has historically provided an accurate signal prior to Bitcoin’s previous ATHs in 2017 and 2021. According to TechDev, when the OBV reaches new highs over a two-month period, it typically indicates that an ATH is imminent, with a market top occurring six to ten months later.
TechDev’s analysis reveals that whenever the OBV reaches new highs, Bitcoin also experiences new highs within one candle on the two-month chart.
In addition to the OBV, TechDev highlights another bullish indicator for Bitcoin. The Vortex Indicator (VI), used to identify trend reversals and confirm current trends, has historically been accurate in predicting strong Bitcoin rallies. Based on TechDev’s monthly chart of BTC, the VI is currently flashing bullish signals for the fourth time.
At the time of writing, Bitcoin is trading at $43,905.
Hot Take: Bitcoin’s Path to New All-Time Highs
According to crypto analyst TechDev, two key indicators are pointing towards the possibility of new all-time highs for Bitcoin in the near future. The on-balance volume (OBV) and Vortex Indicator (VI) both suggest that BTC could experience a significant rally. Historically, when the OBV reaches new highs over a two-month period, it has preceded Bitcoin’s previous ATHs. Additionally, the VI has accurately predicted strong Bitcoin rallies in the past and is currently flashing bullish signals. With these indicators aligning, it seems that Bitcoin could be on track for another major price surge in the coming months.
By
By
By
By
By