A series of indicators are all gearing up for Altcoin’s explosion and Bitcoin’s new all-time high, says popular analyst

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A popular crypto analyst says that several indicators suggest digital asset markets are gearing up for a rapid upward expansion.

The pseudonymous analyst known as TechDev tells his 408,000 Twitter followers that before each of Bitcoin (BTC) hit all-time highs (ATH), China’s 10-year rating bottomed and l Moving Average Convergence Divergence (MACD) indicator has moved up. .

The MACD is a technical indicator intended to signal a possible trend reversal.

Says TechDev,

This happened before every ATH setting bitcoin movement.

Source: TechDev/Twitter

TechDev also says that the altcoin market is gearing up for a big run based on historical patterns.

The analyst examines the total non-Bitcoin crypto market capitalization and identifies periods of downward price action (correction), sideways movement (accumulation), and upward price action (margin).

According to the analyst, altcoins are now in the markup phase, ready for higher prices.

Update:

Correction > Accumulation > Markup

Source: TechDev/Twitter

TechDev also compares the altcoin’s market capitalization to four other charts. It includes the Bitcoin Dominance Chart (BTC.D), which compares Bitcoin’s market capitalization to that of the rest of the crypto markets and the Dollar Index (DXY), which pits the dollar against a basket of other majors. currencies. Also included are charts of the Chinese 10-year note against the DXY (CN10Y/DXY) and the Litecoin pair against Bitcoin (LTC/BTC).

According to TechDev, all charts appear to be tracking their market patterns between 2016 and 2018, suggesting that multiple metrics are lining up to signal an explosion in altcoin markets.

Sometimes patience is all you need.

Source: TechDev/Twitter

Looking at the Bitcoin dominance chart, TechDev seems to be predicting a massive breakdown for BTC.D, similar to what happened between 2016 and 2018. A bearish BTC.D chart indicates that altcoins are rising in value faster than BTC.

For the DXY, the analyst suggests that the dollar index appears to have peaked, indicating that investors are starting to put their capital to work in risky assets such as crypto.

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