An analyst who continues to build a following with macro crypto calls believes Bitcoin (BTC) is almost ready to enter the parabolic phase of its market cycle.
Pseudonymous analyst TechDev tells his 490,300 followers on social media platform X that Bitcoin is emitting technical signals that have preceded steep advances in the past.
The trader shares a chart that suggests Bitcoin broke the upper range of its Bollinger Bands within two months after recovering from a bear market low for about two years.
Traders use Bollinger Bands to identify potential periods of volatility expansion and determine whether an asset is overbought or oversold.
TechDev’s chart also suggests that the two signals were present during the 2016 and 2020 market cycles – just before BTC triggered parabolic increases.
“Things got exciting here.”
Looking at BTC from a different perspective, TechDev says Bitcoin is in the early stages of a parabolic rise based on the crypto king’s logarithmic Moving Average Convergence Divergence (LMACD) indicator. The LMACD indicator is intended to show changes in the trend of an asset,…
