Bitcoin

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 uncommon sign {that a} large enhance 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 development reversals for any given asset.

“Bitcoin 3-week Vortex Indicator crossing… 

As provide final lively over 1 12 months in the past 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 simply crossed for under the third time since 2015. Every single crossing has resulted in a sizeable price enhance for the main crypto asset.

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

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 simply crossed the bullish line for under the fifth time within the crypto asset’s historical past.

“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 factors out that every crossing of the CMF bull line has preceded uptrends in BTC.

Bitcoin is buying and selling for $47,496 at time of writing, up 6.53% during the last 24 hours.

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Featured Image: Shutterstock/Antiv/S-Design1689

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