Three Indicators Show Bullish Bitcoin Future | CryptoGazette
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There is an important crypto analyst who said that there are three indicators with a historical record of signaling Bitcoin bull runs. These indicators are important due to the fact that they are all flashing green at the same time.
Three indicators show bullish Bitcoin moves around the corner
The pseudonymous analyst known as TechDev said recently that the Nasdaq’s relative strength index (RSI), plus Bitcoin’s vortex cross indicator and its 1-year HODL (hold on for dear life) wave are all necessary components of BTC rallies.
As the online publication the Daily Hodl notes, the Vortex cross indicators pinpoint trend reversals, and 1-Year HODL waves measure the amount of BTC that has remained dormant for more than one year.
TechDev also made sure to explain the fact that traders should take notice that two of Bitcoin’s most important indicators are flashing green at the same time the Nasdaq’s RSI suggests an oversold market.
“3 historic ingredients for major BTC impulses:
3W NASDAQ RSI < 50
Strong bearish sentiment toward risk-on assets1yr+ HODL wave at ATH
Constrained active BTC supply3W BTC Vortex bull cross
Building macro bullish momentum.”
On top of the trio of indicators, TechDev says there’s more for bulls to be optimistic about.
He also made sure to highlight the fact that both Bitcoin and the total Altcoin market cap testing crucial moving averages as support, just as the US dollar index (DXY) hints at exhaustion.
As the online publication the Daily Hodl notes, a down-trending DXY traditionally implies strength in other assets, according to most analysts.
“Familiar stage is set…
+ BTC retesting 100D MA after reclaim
+ Altcoin market cap retesting weekly EMA ribbon after years of near-identical structure
+ DXY near local top (imo) after an ~1 year run
+ Fed Funds Rate on the rise”
At the moment of writing this article, BTC is trading in the green and the king coin is priced at $40,683.
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