Bitcoin Poised to Surge: Key Indicators Signal BTC Upswing, Says Crypto Expert

Crypto expert highlights high-timeframe indicators pointing to the end of Bitcoin's (BTC) bearish trend, signaling a potential upward move.

Pseudonymous crypto expert TechDev informs his 418,000 followers on X platform that Bitcoin mirrors its pre-2016 and 2020 bull market stance. He presents a monthly candle chart featuring Bollinger bands and a log-width indicator relative to the 200-month average. The chart indicates Bitcoin's Bollinger bands, a volatility measure, have tightened, hinting at a potential upward breakout. He captions, 'How Bitcoin appears before an upward trajectory...

Source: TechDev/X

The renowned analyst observes that both Bitcoin and altcoins are positioning for potential breakouts. He juxtaposes Bitcoin with the OTHERS chart, representing the market cap of all cryptocurrencies excluding BTC and Ethereum (ETH). He notes that BTC has found support, signaling a long-term bullish trend, whereas OTHERS has surpassed its downward resistance. He comments, 'BTC and alts in sync for a move.

Source: TechDev/X

Earlier this year, TechDev highlighted that Bitcoin had successfully confirmed 'The 3-Prong Signal,' a pattern that had preceded each of Bitcoin's four previous all-time high surges.

Oct 08, 2023

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