Feb 18, 2023
DCA Indicator Flashes 4th Ever Bull Signal for Bitcoin
A major bullish signal has been triggered in the crypto market, with the dollar cost average (DCA) indicator suggesting that a raging bull market is on the horizon. This is only the fourth time this indicator has flashed green since Bitcoin’s inception, and each time it has preceded a massive rally in the price of BTC.
The DCA indicator measures the relative profitability of a hypothetical DCA strategy involving $1 buys per day for a year. When it crosses into profitable territory, marked as 365 on its scale, major bull markets have historically begun, according to crypto market analyst Mohit Sorout.
The news was met with excitement from major Bitcoin investment circles, with Dan Tapiero, founder and CEO of 10T Holdings, declaring it a “rare massive Bitcoin Buy signal.”
The bullish sentiment is further bolstered by the Williams %R oscillator, which points to a Bitcoin bull run. However, there are still some obstacles that need to be overcome before the market can reach the moon, including several moving averages (MAs) acting as resistance for much of 2022. Data from Cointelegraph Markets Pro and TradingView also showed two MAs forming a “death cross” for the first time ever this month.
The surge in Bitcoin prices has also been accompanied by a growing interest in Non-Fungible Tokens (NFTs). NFTs are digital assets that are unique and cannot be replicated. They are used to represent digital art, collectibles, gaming items, and more.
The NFT market is expected to continue to grow in 2023, and many companies are looking to capitalize on the trend. Companies are now offering NFT marketing services and NFT promotion services to help businesses get the most out of their NFTs. This includes helping businesses to create effective campaigns on Twitter and other social media platforms, as well as helping them to find the right NFT marketing agency to work with.
For those looking to sell NFTs, there are now web3 agencies that specialize in helping businesses to do just that. These agencies provide services such as helping businesses to create an effective NFT marketplace, as well as helping them to find the right buyers.
For those looking to get involved in the web3 space, now is the time to do so. With the bullish signals in the crypto market, and the growing interest in NFTs, there is no better time to get involved.
Disclaimer: All investment or financial opinions expressed by MoonLanding Media are not recommendations and are intended for entertainment purposes only. Do your own research prior to making any kind of investment. This article has been generated based on trending topics, has not been fact checked and may contain incorrect information. Please verify all information before relying on it.
