2024-5-12 11:30 |
A prominent crypto analyst, known as the “Titan of Crypto” on X, has identified two crucial metrics that could signal the start of a significant rally in the cryptocurrency market. In a recent post, the analyst with the handle @Washigorira shared their insights, drawing from historical market patterns.
According to the analyst, when the total cryptocurrency market capitalization meets two specific conditions, it has historically marked the beginning of a bullish trend. The first condition is a retest of the 20-period exponential moving average (EMA20), a widely used technical indicator that measures the market’s momentum.
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Show more +Show less –The second condition involves the Stochastic Relative Strength Index (Stochastic RSI), an oscillator that tracks the momentum of price movements. The analyst suggests that when the Stochastic RSI crosses over into bullish territory on the weekly timeframe, it could be a signal for a potential rally.
The Titan of Crypto’s analysis is backed by evidence from previous market cycles. They noted that this combination of factors preceded major rallies in 2017 and 2020, lending credence to the potential for a similar trend to emerge. With these, Bitcoin and altcoins could start rallying anytime from now.
Read Also: Expert Predicts Cardano’s ADA Price to Surge 15x: Here’s Their Outlook
While technical analysis is not an exact science, the analyst’s observations have garnered attention from the crypto community. Many investors closely monitor such indicators to identify potential entry and exit points.
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The post Major Bitcoin (BTC) Rally Is Finally Starting: These Two Metrics Reveal There’s No Going Back appeared first on CaptainAltcoin.
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