Bitcoin Entering ‘Explosive’ Phase as Long-Term Indicators Turn Bullish
A well-known crypto analyst believes that Bitcoin is entering an “explosive” phase as several long-term indicators start to show bullish signs. The analyst, known as TechDev, explains that there is a specific signal that appears every 3-3.5 years, indicating several months of growth for Bitcoin. According to TechDev’s chart, as China’s 10-year yield on its bond decreases against the US Dollar Index, Bitcoin’s price is expected to rise. Other indicators like the Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) also suggest that BTC is on the verge of a breakout. TechDev points out that in the past, Bitcoin has outperformed the NASDAQ by breaking out 10 degrees against the stock exchange.
Bitcoin’s Previous ATH Runs
In September, TechDev mentioned that Bitcoin fulfilled three main requirements before starting a rally to new all-time highs. These requirements include breaking above the 20-month moving average, a monthly MACD bull cross, and a monthly Vortex bull cross. Additionally, TechDev notes that these ATH-setting runs are often preceded by a global liquidity proxy with a ~3.5 year cycle and a logarithmic growth trajectory.
Closing Thoughts: Bitcoin Poised for Growth
Bitcoin is currently trading at $34,271 and has seen a slight increase in the last 24 hours. With several long-term indicators turning bullish, including signals that historically led to significant price surges, many crypto enthusiasts are optimistic about Bitcoin’s future performance. As BTC enters what experts believe to be an “explosive” phase, investors should keep a close eye on these indicators and monitor any potential breakout.
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