A widely followed crypto analyst warns that the leading crypto’s long-term metrics are reversing Bitcoin He says that (BTC) has entered an “explosive” phase.
Crypto strategist TechDev tells his 420,200 followers on social media platform says.
“Every 3 to 3.5 years, this signal tells us that the next few months will be explosive for Bitcoin.”
TechDev’s chart shows that as China’s 10-year bond yield falls against the US Dollar Index, Bitcoin’s price should rise.
According to TechDev, other long-term signals such as the Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) indicate that BTC is on the verge of a breakout.
Crypto The trader then pointed out the breaks BTC has made against the NASDAQ over the years and stated that investors do not want to miss the king crypto, which broke 10 degrees against the stock market.
In September, TechDev said BTC checks three main requirements to start an upward rally. According to the trader, three specific signals were seen in each of the last four times BTC rose to its all-time high.
“The three-pronged signal that precedes each of Bitcoin’s four ATH determination runs:
- Break above the 20-month moving average
- Monthly MACD bullish cross
- Monthly Vortex bull cross
Koinfinans.com As I reported, Bitcoin is trading at $34,271 at the time of writing this news. Additionally, it showed a fractional increase in the last 24 hours.