InvestAnswers: Indicators Signal Incoming Bitcoin Rally

According to a popular crypto analyst, Bitcoin (BTC) will soon break out of the resistance, and stage a rally up to current all-time high levels.

In a recent video update, the analyst from InvestAnswers shared with his 419K YouTube subscribers that an uptick in the volatility during a sideways moving market is a signal of a possible rally for Bitcoin.

“Now what happens after a spike in volatility when the price is flat? Yes, bounce up.”

According to the analyst there are a number of indicators that are sending similar signals.

“You’ve got lower highs coming down the pike ever since the beginning of this year and you got higher lows. You had a $33k floor on January 24th… then we had the second floor, $34.6k, on February 24th.

We hit the $45k glass ceiling a little bit above it, a little bit of a lower high last time, but everything we see – we’re seeing lower highs, higher lows and a large move seems to be imminent from a technical perspective.”

Funding rates in exchanges are also pointing towards incoming price movement.

“Funding rates as well have now been at or below neutral levels on Binance and Bybit for over 100 days. That means we have now been in a pessimistic funding rate regime for longer than we ever saw during the summer bear market of 2021, another reason I’m pretty convinced something’s going to pop.

You can see that this is highly unusual price activity. Bitcoin has only stayed thrice, which means three times in five years within this range, further proof a breakout is coming… There’s no downside. The downside now, maybe $34k to $35k, and the upside is $68k.”

At the time of writing, BTC is trading at $40,557, down 0.5% on the daily time frame.