A widely followed crypto analyst, TechDev, has suggested that Bitcoin’s bear market is over and an expansion upward is imminent. He shared a chart with monthly candles, Bollinger bands, and an additional indicator showing the logarithmic width between the bands relative to the 200-month moving average. The chart appears to suggest that Bitcoin’s Bollinger bands, which measure relative volatility, have compressed enough to foreshadow a likely breakout to the upside. TechDev also compared Bitcoin with OTHERS, a chart that measures the market cap of all crypto assets except BTC and Ethereum. According to the trader, BTC has established support at the beginning of a long-term bullish impulse, while OTHERS has broken a downward resistance. Earlier this year, TechDev said that Bitcoin had checked “The 3-prong signal” which preceded each of Bitcoin’s four all-time high runs.
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| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | positive |
| Relevance Score | 8 |
| People | Don’t Miss a Beat, Twitter, Telegram, TechDev, Facebook |
| Companies | None |
| Currencies | Bitcoin, others, Ethereum |
| Securities | None |
