The crypto analyst said that Bitcoin and altcoin projects are preparing for big moves this month. According to the crypto analyst nicknamed TechDev, certain metrics indicate that altcoins may be prepared for “big moves.” For details Cryptokin.comKeep following.
Wave of altcoin projects
The popular trader tells his 132,200 Twitter followers that the relative strength index (RSI) of altcoins’ market cap follows historical patterns. And behind that, he says that this indicator (the one that tracks the momentum of an asset) right now is making the altcoin market bullish. TechDev says:
The total altcoin market cap appears to be contained within a 2-week RSI channel of its entire history. It seems to follow the top row 2 taps pattern, followed by a 3rd tap which marks the top of the altcoin market. Massive altcoin moves are coming.
The analyst thinks that altcoins will increase in price enough to “change lives”. TechDev is also quite optimistic about Bitcoin (BTC), saying that the biggest coin by market cap “seems ready” to break to $84,000. Bitcoin is trading at $63,009 at the time of writing, up about 4% per week, according to CoinGecko. BTC is down nearly 6% from its all-time high of $67,276 on Oct. TechDev has shared a chart showing how Bitcoin’s price action this year mirrored that of BTC in 2017 and gold in the 1970s.
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