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TechDev, a well-known figure in the cryptocurrency market, claims that Bitcoin (BTC) has entered an explosive phase due to a reversal in its long-term measurements. The analyst, who anticipates an explosive rally for BTC, made striking statements in his remarks.
“Explosive Movement in Bitcoin!”
The expert cryptocurrency analyst known as TechDev stated through social media that a signal indicating several months of growth for the largest cryptocurrency by market value occurs every 3-3.5 years. In his remarks, the analyst stated the following:
Every 3 to 3.5 years, this signal suggests that the upcoming months will be explosive for Bitcoin.
According to the analyst’s chart, as the yield on China’s bond falls against the US Dollar Index, the price of Bitcoin should also rise. According to TechDev, other long-term signals such as the relative strength index (RSI) and moving average convergence/divergence (MACD) indicate that BTC is on the verge of a breakout.
Requirements for a BTC Rally
The crypto analyst then highlighted the breakouts that BTC has experienced against NASDAQ over the years, stating that investors do not want to miss out on the leading cryptocurrency that has shown a 10-degree rise against the stock market. In September, TechDev stated that Bitcoin met three main requirements to initiate an upward rally. According to the analyst, in each of the four times BTC has reached all-time highs, three specific signals were displayed. The analyst emphasized the following about the topic:
The three-pronged signal preceding each of Bitcoin’s four ATH adjustments: Breakout above the 20-month moving average. Monthly bullish MACD cross. Monthly bullish Vortex cross. A global liquidity indicator oscillating with a ~3.5-year cycle. Additionally, there is a daily growth trajectory.
As of writing this article, Bitcoin is trading at $34,271 with a minor increase in the last 24 hours, according to data from 21milyon.com.