A popular crypto analyst, known as TechDev, is predicting a massive Bitcoin price surge. He claims Bitcoin is showing key technical signals that have historically preceded huge price jumps.
Technical Signals Point to a Parabolic Rally
TechDev, who boasts a large following on X (formerly Twitter), points to Bitcoin breaking through its Bollinger Bands on a two-month chart. This, he says, is a pattern seen before major Bitcoin rallies in 2016 and 2020. Bollinger Bands help traders gauge market volatility and potential overbought or oversold conditions. According to TechDev, this is the point where things get really interesting.
Logarithmic Moving Average Convergence Divergence (LMACD) Adds to the Prediction
Looking at another indicator, the logarithmic moving average convergence divergence (LMACD), TechDev sees Bitcoin in the early stages of a parabolic rise. The LMACD helps identify changes in an asset’s trend, strength, and momentum. He emphasizes the importance of looking at long-term charts (“high time frames” or HTFs) to understand these cycles. He argues that previous price points, like $30,000, $50,000, $70,000, and $90,000, weren’t the peak because the long-term upward trend hadn’t ended. He believes this upward trend continues.
The Price Target? Still Some Way to Go
TechDev’s analysis suggests Bitcoin won’t reach its cycle peak until the two-month LMACD hits resistance at 0.12. Currently, it’s sitting around 0.04. At the time of writing, Bitcoin is trading at approximately $97,274.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies. Investing in crypto is risky, and you could lose money.
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