Feb 18, 2023
Rare BTC Buy Signal Flashes, Preceding 640% Price Upside
Crypto enthusiasts have been given a major warning this week as the dollar cost average (DCA) indicator flashed green for just the fourth time in Bitcoin’s (BTC) history.
The DCA indicator is a rare buy signal that has historically preceded massive BTC price upside. Market analyst Mohit Sorout tweeted that the indicator is now “suggesting a raging bull market.”
The DCA indicator measures the relative profitability of an investment strategy whereby a buyer allocates a fixed amount of capital to gain exposure to an asset at set intervals, such as buying $10 per week in Bitcoin. When the indicator crosses into profitable territory, marked as 365 on its scale, major bull markets have historically begun.
The news of the DCA indicator’s bullish signal has been welcomed by major Bitcoin investment circles. Dan Tapiero, founder and CEO of 10T Holdings, declared in a repost of Sorout’s findings that it was a “Rare massive Bitcoin Buy signal”.
In addition to the DCA indicator, another rare bull signal this month comes in the form of the Williams %R oscillator. However, senior market analyst at Cubic Analytics, Caleb Franzen, is warning that Bitcoin’s latest trip to six-month highs represents a “failed breakout” due to 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 news of the rare bullish signals has been met with cautious optimism in the crypto space, with many hoping that the signals will result in a continuation of the current bull market.
The crypto space is already seeing a boom in the use of Non-Fungible Tokens (NFTs) as a form of digital promotion, with many businesses now turning to NFTs as a way to engage with their customers. NFTs are also being used as a way to sell digital art, music, and other digital assets. As such, many businesses are now turning to NFT marketing agencies to help them promote their products and services through NFTs.
NFTs are also being used to promote products and services on social media, such as Twitter. Twitter NFT marketing is becoming increasingly popular, with many businesses now using NFTs as a way to engage with their followers and build brand awareness.
As the crypto space continues to grow, the use of NFTs as a form of promotion and marketing is likely to increase. For those looking to take advantage of the current bull market, it is important to remember that the DCA indicator is a rare buy signal, and that caution should be taken when investing in cryptocurrencies.
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.
