TechDev: 3 Indicators That Have Flagged Bitcoin Rallies Turn Green

According to a popular crypto analyst, known as TechDev, three indicators that historically have signaled bullish momentum for Bitcoin (BTC), are all showing green at the same time.

The analyst shared with his 388K followers on Twitter that the Nasdaq’s relative strength index (RSI), BTC vortex cross indicator and its 1-year HODL wave are all elements of BTC price rise.

Vortex cross indicators aim to identify trend reversals, and 1-Year HODL waves keeps track on the amount of BTC that has not moved for over a year.

The analyst highlights that that two very important of Bitcoin indicators are showing green, and at the same time the Nasdaq’s RSI indicated that the market is oversold.

“3 historic ingredients for major BTC impulses:

– 3W NASDAQ RSI < 50
Strong bearish sentiment toward risk-on assets

– 1yr+ HODL wave at ATH
Constrained active BTC supply

– 3W BTC Vortex bull cross
Building macro bullish momentum.”

3 historic ingredients for major #BTC impulses:

? 3W #NASDAQ RSI < 50
Strong bearish sentiment toward risk-on assets

? 1yr+ HODL wave at ATH
Constrained active #BTC supply

? 3W #BTC Vortex bull cross
Building macro bullish momentum pic.twitter.com/0CC3JzEGjX

— TechDev (@TechDev_52) April 16, 2022

However, according to TechDev that’s not all. The analyst notes that Bitcoin and the total Altcoin market cap testing crucial moving averages as support, while US dollar index (DXY) looks exhausted. When DXY is trending down it usually means strength in other assets.

“Familiar stage is set…

+ BTC retesting 100D MA after reclaim

+ Altcoin market cap retesting weekly EMA ribbon after years of near-identical structure

+ DXY near local top (imo) after an ~1 year run

+ Fed Funds Rate on the rise”

2/#BTC 100D MA retest + #altcoin structure parallel + $DXY top, all at the start of a Fed Funds Rate hike cyclehttps://t.co/2bSZ0FLiVF

— TechDev (@TechDev_52) April 14, 2022