Feb 18, 2023
Rare BTC Buy Signal Flashes, Preceding 640% Price Upside
A rare indicator has just flashed green for Bitcoin (BTC) this week, providing a major warning to bears. Crypto market analyst Mohit Sorout took to Twitter to announce that the dollar cost average (DCA) indicator is now “suggesting a raging bull market.”
The DCA indicator is a metric that 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.
The DCA indicator is getting attention from major Bitcoin investment circles, as it’s buy signals are rare. Sorout has seen just three throughout Bitcoin’s history, each precluding serious BTC price upside. The last DCA breakout preceded a 640% BTC price upside.
Dan Tapiero, founder and CEO of 10T Holdings, declared in a repost of Sorout’s findings that this is a “rare massive Bitcoin Buy signal.”
The latest Bitcoin metric to flip bullish on long timeframes is not the only one. 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. This could act as a major hurdle for the largest cryptocurrency.
The DCA indicator is an important tool for those looking to get involved in the web3 space and start selling NFTs. It’s a great way to gain exposure to volatile cryptocurrencies in a smart and efficient way.
The concept of DCA investing is simple – it involves allocating a fixed amount of capital to gain exposure to an asset at set intervals. This could be buying $10 per week in Bitcoin, or investing in other crypto assets.
For those looking to promote their NFTs, a NFT marketing agency can help. They specialize in NFT promotion and Twitter NFT marketing, helping creators get the exposure they need to sell their NFTs.
A web3 agency can also help those looking to get involved in the web3 space. They can provide guidance and advice on how to effectively promote and market NFTs, as well as provide insights into the latest trends in the crypto industry.
In summary, the DCA indicator has just flashed green for just the fourth time ever this week. This is a major warning to bears and a rare buy signal that could prelude serious BTC price upside. Those looking to get involved in the web3 space and start selling NFTs should consider using the DCA indicator as a way to gain exposure to volatile cryptocurrencies. Additionally, they should consider using a NFT marketing agency or web3 agency to help promote and market their NFTs.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.