A popular crypto analyst, TechDev, is forecasting significant price increases for both Bitcoin (BTC) and altcoins. He believes the market is poised for a major rally, similar to those seen in 2017 and 2021.
Bitcoin Breakout?
TechDev points to a technical chart pattern suggesting Bitcoin is ready to break through a key resistance level. He’s looking at the weekly Bollinger Bands, a volatility indicator. A break above the upper band often signals a significant price surge. He also notes Bitcoin’s recovery from a recent low of $76,000 as a positive sign.
Altcoins to Outperform
TechDev is even more bullish on altcoins. He says the altcoin market has flipped a previous resistance level into support, a pattern he’s seen before major price increases. He believes this setup, along with the current market conditions, strongly suggests altcoins are about to outperform Bitcoin.
The Liquidity Cycle and Bitcoin Dominance
TechDev’s predictions are based on his analysis of the liquidity cycle (the flow of money in and out of markets) and the Bitcoin Dominance (BTC.D) chart. He sees the liquidity cycle hitting a bottom, implying an upcoming period of increased investment. A falling BTC.D – meaning Bitcoin’s share of the total crypto market cap is decreasing – further supports his altcoin-focused outlook. He claims this indicates altcoins are gaining value faster than Bitcoin.
The Analyst’s Conclusion
In short, TechDev believes the stage is set for a significant rally in both Bitcoin and altcoins, with altcoins potentially leading the charge. He warns that those who sell too early (“paper-handed investors”) will miss out on substantial gains. At the time of writing, Bitcoin was trading around $83,036.
Disclaimer: This information is for general knowledge only and does not constitute financial advice. Always conduct your own thorough research before making any investment decisions.
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