A prominent crypto analyst, followed by 424,500 viewers on platform X, has made a significant statement highlighting a historically accurate bullish signal for Bitcoin (BTC) using the Vortex Metric. According to TechDev, this reliable tool for technical analysis is once again indicating the start of a Bitcoin bull market.
The Vortex Metric, which is used to identify trend reversals and confirm ongoing trends, has correctly predicted the beginning of bull markets three times before, as shown on the analyst’s monthly BTC chart. TechDev emphasizes that this metric is currently signaling a rise for the fourth time, marking a rare and not-to-be-missed buying indicator for Bitcoin.
TechDev also points to the strong performance of the Dow Jones Industrial Average (DJI), which has reached an all-time high, suggesting that the positive momentum in traditional markets could potentially impact Bitcoin’s upward trajectory.
To further support his bullish stance, TechDev shares a chart comparing China’s 10-year bond yield to the US dollar index (CN10Y/DXY). This chart highlights the cyclical patterns of global liquidity that align with Bitcoin’s historical market cycles.
According to the analyst, the upward trajectory of global liquidity observed in the years 2011, 2013, 2017, and 2020 indicates a potential bullish trend for Bitcoin in the current market scenario. At the time of the last update, Bitcoin had shown significant movement, reaching a price level of $44,200 within the last hour. Investors and enthusiasts are now focused on the metric that signals a potential bullish phase for the cryptocurrency, while the crypto community keenly observes the unfolding events, considering the historically accurate signals. The analyst’s predictions using the metric serve as a guide for Bitcoin investors, with the recent increase in BTC highlighting the validity of these rare signals. It remains to be seen whether BTC will break the $45,000 mark in the coming periods.