Feb 18, 2023
Rare BTC Buy Signal Flashes: DCA Indicator Predicts Raging Bull Market
This week, a major warning to bears was issued when the dollar cost average (DCA) indicator flashed green for just the fourth time ever. Crypto market analyst Mohit Sorout announced the news in a tweet on Feb. 16, noting that the indicator is now “suggesting a raging bull market.”
The DCA indicator is a rare buy signal that has only been seen three times throughout Bitcoin’s history, each time preceding serious BTC price upside. Sorout referred to the event as “the mother of all btc bullish signals.”
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.
Dan Tapiero, founder and CEO of 10T Holdings, also weighed in on the news, calling it a “Rare massive Bitcoin Buy signal.”
The current Bitcoin bull run signals don’t point unequivocally to the moon, however. Caleb Franzen, a senior market analyst at Cubic Analytics, warned 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 crypto space is buzzing with anticipation as NFTs become a hot topic in the industry. NFTs, or non-fungible tokens, are digital assets that are unique and can be used for various purposes, such as buying, selling, and trading. NFTs are becoming popular in the web3 space as they can be used for promotion and marketing purposes.
Twitter is one of the most popular platforms for NFT marketing, with users able to create and share their own unique NFTs. Companies are also taking advantage of the platform to promote their NFTs, with some even hiring NFT marketing agencies to help them get the most out of their campaigns.
NFTs are also being sold on various platforms, such as OpenSea, Rarible, and SuperRare, with some NFTs fetching astronomical prices. As the NFT space continues to grow and evolve, it’s clear that there are numerous opportunities for those looking to get involved.
In the end, it’s clear that the web3 space is booming and that NFTs are becoming an increasingly important part of the industry. With the DCA indicator suggesting a raging bull market, now may be the perfect time for those looking to get involved in the space to start exploring the possibilities of NFTs and web3.
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.
