"Large pump" kommer till Bitcoin, antyder BTC-prismått - men kanske inte förrän i december

Tidsstämpel: 6 oktober 2021 5:39
Källnod: 1110646

Bitcoin (BTC) should see a "large" price increase thanks to a rare bullish phenomenon which has just hit for the first time in seven years.

I sin senaste uppdatering on Bitcoin's relative strength index (RSI), popular Twitter analyst TechDev flagged major similarities between this year and the 2013 BTC bull run.

Stochastic RSI sees "especially bullish cross"

As Bitcoin heads higher, RSI has rapidly increased, and is currently cooling from "overbought" territory suggestive of a temporary — even if modest — price pullback.

Zooming out, however, stochastic RSI is in the midst of repeating its moves from 2013 which preceded Bitcoin's run to what were then all-time highs of around $1,300. For comparison, BTC/USD began that year at $13.

Stokastisk RSI mäter den relativa styrkan och svagheten hos själva RSI -indikatorn.

"Bitcoin had its 2nd bullish monthly stoch RSI cross between 20 and 80 this cycle. An especially bullish cross. Sep 2021 and May 2020," TechDev commented alongside a chart showing the action.

"This cross only happened two other times in history. You guessed it. Sep 2013 and May 2012. Large pumps followed all 3 previous crosses."
Bitcoin stokastiskt RSI vs BTC/USD kommenterat diagram. Källa: TechDev/Twitter

All quiet 'til December?

Så imponerande som det låter kan Bitcoin -tjurar behöva vänta lite längre för att det ultimata trycket till toppen ska slå.

Relaterat: 50 XNUMX dollar Bitcoin är den ultimata björnfällan, säger analytikern när BTC -priset kämpar för nyckelnivån

Detta är också tack vare historisk BTC-prisdata, som analytikern Rekt Capital säger visar new all-time highs coming in December, rather than "Uptober."  

What's more, November may even see a retracement back to current price levels of just above $50,000.

Such a seemingly conservative prediction nonetheless does not conflict with other popular models, notably the "worst case scenario" monthly close series from stock-to-flow model creator PlanB.

Prognoserna kräver 63,000 98,000 USD för oktober, 135,000 47,000 USD för november och minst 43,000 XNUMX USD för månadsslutet i december. Siffrorna för augusti och september - $XNUMX XNUMX respektive $XNUMX XNUMX - var exakt på punkt.

Källa: https://cointelegraph.com/news/large-pump-coming-to-bitcoin-hints-btc-price-metric-but-maybe-not-until-december

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