Bitcoin (BTC) Ready for 'Impulse,' Super-Rare Indicator Says
The principles of Bitcoin (BTC) price correlation with crucial macro-economic indicators is still yet to be studied, but some obvious patterns have already formed. One of them has just flashed a super-rare bullish signal.
'When liquidity flows, Bitcoin moves'
According to an analysis an anonymous researcher who goes by @TechDev_52 on Twitter shared with his 400,000 followers, Bitcoin (BTC) might be on the verge of a major impulse based on the indicator that masterfully predicted its upsurges during the entire history of the orange coin.
When liquidity flows, #Bitcoin moves.
— TechDev (@TechDev_52) February 3, 2023
CN10Y / DXY broke above its 1-year MA...
And its monthly MACD has crossed bullish.
5 out of the last 5 times, a major #BTC impulse followed.
What happens this time? pic.twitter.com/zfLBst3K9Y
He tracked the dynamics of the ratio between the rates of China Government Ten-Year Bonds (CN10Y) and the U.S. Dollar Index (DXY). This indicator has just broken above its 1-year moving average line.
Also, the moving average convergence/divergence (MACD, or MAC-D) indicator that follows momentum is back to the "green zone," which is traditionally associated with "bullish" sentiment.
For the five times in Bitcoin (BTC) 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 (BTC) price in Q4, 2020-Q1, 2021.
Bitcoin (BTC) bottom is highly likely in, analysts say
The most impressive impulse ever was registered in 2010, when the BTC price added 47,000% in a few months.
As Bitcoin (BTC) 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 (BTC) analysts have already claimed that numerous indicators signaled that the bottom for the Bitcoin (BTC) price is in the past.
Tomiwabold OlajideFor instance, stablecoin dynamics and long-term holder behavior are all bullish as of February 2023.
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