Bitcoin – Parabolic Rally Incoming?
TechDev thinks we are due for a parabolic rally and could see $160K by end of year
Crypto Analyst Predicts Parabolic Bitcoin Rally, Updates Massive BTC Price Target for 2022
“Based on TechDev’s chart, Bitcoin’s relative strength indicator (RSI), a momentum indicator, managed to reclaim support at $45,000 in April 2020. The rise in momentum preceded Bitcoin’s move above the 50-week moving average, which eventually launched BTC into a steep price climb.
TechDev appears to be looking at the same confluence of events to signal the next BTC surge.
The crypto analyst is also looking at the 11-year history of BTC’s price rises. According to TechDev, Bitcoin can potentially rally to $160,000 before the end of the year based on BTC’s tendency to top out at four standard deviations from the 50-week exponential moving average.”