Feb 18, 2023
DCA Indicator Flashes Green, Signals “Raging Bull Market” for Bitcoin
The crypto market is abuzz with excitement this week, as a major Bitcoin (BTC) price indicator has flashed green for just the fourth time ever. The dollar cost average (DCA) indicator is now “suggesting a raging bull market,” according to crypto market analyst Mohit Sorout.
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, Sorout argues.
The buy signals from the DCA indicator are rare, with Sorout seeing just three throughout Bitcoin’s history, each precluding serious BTC price upside. The most recent signal led to a 640% BTC price upside.
The news of the DCA indicator’s bullishness has even been noticed by major Bitcoin investment circles. Dan Tapiero, founder and CEO of 10T Holdings, called it “the mother of all btc bullish signals.”
Another rare bull signal this month comes in the form of the Williams %R oscillator. However, depending on the timeframe, its Bitcoin bull run signals do not yet point unequivocally to the moon.
Caleb Franzen, a senior market analyst at Cubic Analytics, is warning that Bitcoin’s latest trip to six-month highs represents a “failed breakout.” The largest cryptocurrency also faces a major hurdle in the form of several moving averages (MAs) overhead acting as resistance for much of 2022. Data from Cointelegraph Markets Pro and TradingView further showed two MAs forming a “death cross” for the first time ever this month.
The bullish news of the DCA indicator’s signal has many in the crypto world excited about the potential of NFTs and web3. NFTs are digital assets that are stored on a blockchain, and they are becoming increasingly popular as a form of digital asset promotion.
NFTs are particularly useful for crypto marketers, as they are a great way to promote a brand or product. They can be used to create unique, one-of-a-kind digital experiences that can be shared with a wider audience.
Web3 is the next-generation of the internet, and it is becoming increasingly popular for its security, privacy, and decentralization. Web3 is an open-source platform that enables developers to build decentralized applications (dApps) and store data securely on the blockchain.
The combination of NFTs and web3 can be used to create powerful marketing campaigns that can reach a wider audience. Many companies are now turning to NFT marketing agencies to help them create campaigns that are tailored to their needs.
These agencies specialize in creating custom campaigns that use NFTs to promote a brand or product. They can also help companies sell their NFTs on the open market, as well as manage their social media accounts to help increase engagement and reach.
The bullish news of the DCA indicator’s signal has many in the crypto world optimistic about the potential of NFTs and web3. With the right tools and strategies, companies can leverage the power of NFTs and web3 to create powerful marketing campaigns that can reach a wider audience.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.