Crypto Analyst Says Bitcoin (BTC) Just Displayed a Rare Bullish Signal That “Never Missed.”
A widely followed crypto analyst says Bitcoin (BTC) is sending a historically rare and accurate bullish signal.
Pseudonymous crypto strategist TechDev tells his 424,500 followers on social media platform X that the Vortex Indicator (VI) once again signals the start of a Bitcoin bull market.
The VI is used in technical analysis to detect trend reversals and confirm current trends. Based on the analyst's monthly BTC chart, the VI indicator has accurately marked the beginning of bull runs on three previous occasions and is now showing an uptrend for the fourth time.
“A rare Bitcoin buy signal that has never been missed.”
Source: TechDev/X
The analyst also believes that another indicator signaling bullish trends for Bitcoin is the recent strong performance of the Dow Jones Industrial Average (DJI).
“New all-time high today on the Dow Jones. I wonder what’s next.”
The chart he published includes measuring the 10-year yield of Chinese bonds compared to the US dollar index (CN10Y/DXY) to illustrate the cyclical patterns of global liquidity that appear to coincide with Bitcoin's market cycles.
The analyst's chart shows that global liquidity is already increasing, suggesting that Bitcoin could follow suit, as it did in 2011, 2013, 2017 and 2020.
Source: TechDev/X
Bitcoin is trading at $42,540 at the time of writing, up 2.6% in the last 24 hours.
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