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Followed by 424,500 viewers, the famous crypto analyst TechDev made an important statement underlining a historically accurate bullish signal for Bitcoin (BTC). According to TechDev, the Vortex Metric, a reliable tool for technical analysis, once again indicates the start of a Bitcoin bull market.
The Vortex Metric’s Noteworthy Record for Bitcoin
The Vortex Metric, used to identify trend reversals and confirm ongoing trends, has correctly predicted the start of bull markets three times before, as shown on the analyst’s monthly BTC chart. TechDev emphasizes that the Vortex Metric is currently giving a bullish signal for the fourth time and is a rare and not-to-be-missed buying indicator for Bitcoin.
The analyst also draws attention to the strong performance of the Dow Jones Industrial Average (DJI), which has reached its all-time high, suggesting that this positive momentum in the traditional market could potentially impact Bitcoin’s upward trajectory.
Global Liquidity Models and Bitcoin Cycles
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 in line with Bitcoin’s historical market cycles.
According to the analyst, the upward trajectory of global liquidity observed in 2011, 2013, 2017, and 2020 indicates a potential bullish trend for Bitcoin in the current market scenario. At the time of the latest update, Bitcoin has shown significant movement within the last hour, reaching up to the level of $44,200.
Investors and enthusiasts are focused on the metric that indicates a potential bullish phase for the cryptocurrency Bitcoin. Lastly, the crypto community is eagerly observing the unfolding events, considering the historically accurate signals.
The analyst’s predictions using the metric serve as a guide for Bitcoin investors. After the analyst’s comments, the increase in Bitcoin BTC did not go unnoticed. This situation has also revealed the accuracy of the historically rare signal. It remains to be seen whether the cryptocurrency BTC will be able to break the $45,000 level in the upcoming time periods.
