Bitcoin's key signal flashes: historical data suggests a violent rise in 3-4 months

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TechDev2024/12/17 09:59

By:TechDev

On-chain analyst TechDev pointed out that the Chaikin Money Flow indicator (CMF) of Bitcoin has touched the "yellow area". From historical data, this key signal appeared in the bull markets of 2013 and 2017, followed by a vertical rise in Bitcoin prices within 3-4 months, with astonishing gains.

Specifically:

In 2013, after the capital flow touched the yellow area, Bitcoin achieved a strong rise in 91 days, with a significant increase in trading volume.

In 2017, similar signals appeared again, and the price of BTC exploded in 122 days, with trading volume soaring to a high.

Currently, the CMF of BTC has re-entered this area. With the gradual recovery of market liquidity and the strengthening of trading volume support, resonance signals between Technical Fundamental and Fundamental have begun to emerge. If historical patterns repeat, the price of Bitcoin may enter a new round of strong upward trend in the next 3-4 months.

Bitcoin's key signal flashes: historical data suggests a violent rise in 3-4 months image 0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

The Federal Reserve's Beige Book shows little change in U.S. economic activity, with increasing divergence in the consumer market. JPMorgan predicts a Fed rate cut in December. Nasdaq has applied to increase the position limit for BlackRock's Bitcoin ETF options. ETH has returned to $3,000, signaling a recovery in market sentiment. Hyperliquid has sparked controversy due to a token symbol change. Binance faces a $1 billion terrorism-related lawsuit. Securitize has received EU approval to operate a tokenization trading system. The Tether CEO responded to S&P's credit rating downgrade. Large Bitcoin holders are increasing deposits to exchanges. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively improved by the Mars AI model.

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