Trader Says Bitcoin Just Flashed Its ‘Parabolic Signal,’ Predicts Things ‘Escalate Quickly’ From Here
A crypto analyst with a large following says that Bitcoin has printed its “parabolic signal” that suggests BTC is in the early innings of a strong bull market.
Pseudonymous crypto analyst TechDev tells his 422,000 followers on the social media platform X that in terms of market liquidity, Bitcoin reached its bottom more than a year ago.
TechDev attempts to depict cyclical patterns of dollar liquidity by pinning the US dollar index (DXY) against the Chinese 10-year bond, which appears to coincide with Bitcoin’s market cycles.
“As far as liquidity is concerned, the cycle bottomed over a year ago.
This has been the part where things accelerate quickly.”
The analyst also looks at the Vortex Indicator (VI), which was designed to spot trend reversals and confirm current trends.
TechDev shares a monthly chart of BTC that appears to show that the VI has had a near-perfect track record in signaling bull markets. He calls the bullish flip of the VI the “parabolic signal” for Bitcoin.
“Bitcoin Parabolic Signal.”
The widely followed trader shares another way of looking at Bitcoin’s market cycles. He uses BTC priced in the S&P500 index, combined with the Ichimoku Cloud indicator, a moving average-based trend identification system, plus the true strength index (TSI), a momentum indicator.
TechDev says the three indicators synchronize like “clockwork” to suggest 31-month cycles between the top of the last bull run and the beginning of the next.
“Bitcoin Clockwork
Highs in BTC / SP500 mark major impulse tops.
For the 3rd straight time, Bitcoin has broken into the monthly Ichimoku Leading Span pocket, exactly 31 months after the last impulse top.
Paired with the 3rd ever bullish TSI cross.”
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
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.
Generated Image: Midjourney
The post Trader Says Bitcoin Just Flashed Its ‘Parabolic Signal,’ Predicts Things ‘Escalate Quickly’ From Here appeared first on The Daily Hodl.
Go to Source
Author: Alex Richardson
