Major Bitcoin $BTC impulse coming, reliable indicator says w/ TechDev_52 $CN10Y $DXY
He tracked the dynamics of the ratio between the rates of China Government Ten-Year Bonds and the U.S. Dollar Index . This indicator has just broken above its 1-year moving average line.
Also, the moving average convergence/divergence indicator that follows momentum is back to the"green zone," which is traditionally associated with"bullish" sentiment.For the five times in Bitcoin history — in 2010, 2012, 2013, 2017 and 2020 — this combination of factors was a valid optimistic signal for the largest cryptocurrency. Its last appearance resulted in an 8x upsurge of the Bitcoin price in Q4, 2020-Q1, 2021.
As Bitcoin is trying to reconquer $24,000 for the second time, its Alternative.me Fear and Greed Index has stayed in the"Greed" zone for five days in a row. As covered by U.Today previously, Bitcoin analysts have already claimed that numerous indicators signaled that the bottom for the Bitcoin price is in the past.
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