Feb 18, 2023
DCA Indicator Flashes Raging Bull Market for Bitcoin Price
This week, a major warning was issued to bears, as the dollar cost average (DCA) indicator flashed green for just the fourth time ever in the history of Bitcoin (BTC). On Feb. 16, crypto market analyst Mohit Sorout announced that the DCA indicator was now “suggesting a raging bull market”.
The DCA indicator is a rare buy signal that is getting attention from major Bitcoin investment circles. When it crosses into profitable territory, marked as 365 on its scale, major bull markets have historically begun.
The DCA Indicator measures the relative profitability of a hypothetical DCA strategy involving $1 buys per day for a year. It is believed to be an optimal way of gaining exposure to volatile cryptocurrencies.
In addition to the DCA indicator, 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 who flagged the breakout, is warning that Bitcoin’s latest trip to six-month highs represents a “failed breakout”. Data from Cointelegraph Markets Pro and TradingView further showed two MAs forming a “death cross” for the first time ever this month.
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Whether you’re just getting started in the NFT space or are an experienced NFT marketer, working with a web3 agency can be a great way to get the most out of your NFT marketing efforts. With the right NFT marketing agency, you can be sure that your NFTs will be seen by the right people and that your NFTs will be promoted in the most effective way possible.
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.
