A Crypto Analyst Believes Bitcoin’s Bull Market Is Just Beginning
A popular crypto analyst suggests that Bitcoin is entering a strong bull market. According to the analyst, Bitcoin’s “parabolic signal” has been triggered, indicating that the cryptocurrency is in its early stages of a significant price increase.
The analyst, known as TechDev, explains that Bitcoin’s market liquidity reached its lowest point over a year ago. By comparing the US dollar index (DXY) against the Chinese 10-year bond, TechDev points out cyclical patterns that align with Bitcoin’s market cycles.
TechDev also examines the Vortex Indicator (VI), which has a history of accurately identifying trend reversals and confirming current trends. The analyst shares a monthly chart of Bitcoin that shows how the VI has consistently signaled bull markets in the past. TechDev refers to this bullish flip of the VI as the “parabolic signal” for Bitcoin.
Additionally, TechDev analyzes Bitcoin’s market cycles by considering BTC’s price in relation to the S&P500 index. Combining this data with the Ichimoku Cloud indicator and the true strength index (TSI), TechDev identifies 31-month cycles between each major impulse top for Bitcoin.
Hot Take: Bitcoin Primed for Rapid Growth
A crypto analyst believes that Bitcoin is on the verge of rapid growth due to its recent “parabolic signal.” The analyst argues that Bitcoin’s liquidity bottomed over a year ago and suggests that this is when things start accelerating quickly. By analyzing various indicators and market cycles, the analyst predicts that Bitcoin is entering a strong bull market. This forecast aligns with other experts who are optimistic about Bitcoin’s future performance. As always, it’s important to conduct your own research and consider multiple perspectives before making any investment decisions.
By
By
By
By