1. Home
  2. Bitcoin
  3. Rare Indicator Suggests Massive Bitcoin Bull Run About To Begin, Says Popular Crypto Analyst
Rare Indicator Suggests Massive Bitcoin Bull Run About To Begin, Says Popular Crypto Analyst

Rare Indicator Suggests Massive Bitcoin Bull Run About To Begin, Says Popular Crypto Analyst

0

Source: Daily Hodle

Rare Indicator Suggests Massive Bitcoin Bull Run About To Begin, Says Popular Crypto Analyst

Pseudonymous crypto analyst Tech Dev says one metric is flashing a rare signal that a massive boost for Bitcoin (BTC) is incoming.

In a tweet, the analyst shares a Bitcoin chart with 3-week candles and a vortex indicator (VI), a metric that identifies trend reversals for any given asset.

“Bitcoin 3-week Vortex Indicator crossing… 

As supply last active over 1 year ago exceeds 60%… 

After Dormancy Flow bottomed…”

Source: TechDev_52/Twitter

The vortex indicator metric measures two trendlines: VI+ and VI-. According to TechDev, Bitcoin’s two VI trendlines just crossed for only the third time since 2015. Every single crossing has resulted in a sizeable price boost for the leading crypto asset.

Next, the pseudonymous analyst explores Chaikin Money Flow (CMF), a metric measuring the volume-weighted average of accumulation and distribution over a set period.

Says TechDev of the indicator’s usefulness,

“[The CMF metric] takes into account candle closing performance relative to volume to infer the relative buy/sell pressure. Crosses of the 0 line suggest a pending trend reversal on that TF.”

Using the CMF metric, the analyst highlights how Bitcoin just crossed the bullish line for only the fifth time in the crypto asset’s history.

“Bitcoin 2-week Chaikin Money Flow crossing bullish for only the 5th time in its history.”

Source: TechDev_52/Twitter

As with the Bitcoin vortex indicator metric, TechDev points out that each crossing of the CMF bull line has preceded uptrends in BTC.

Bitcoin is trading for $47,496 at time of writing, up 6.53% over the last 24 hours.

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp
Check Latest News Headlines

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Antiv/S-Design1689

The post Rare Indicator Suggests Massive Bitcoin Bull Run About To Begin, Says Popular Crypto Analyst appeared first on The Daily Hodl.

Go to Source
Author: Daily Hodl Staff