Crypto analyst TechDev, followed by over 516,000 users, suggests that Bitcoin and altcoins may soon replicate the bull runs of 2017 and 2021, based on historical patterns.
TechDev's Market Predictions
Analyst TechDev, observing the technical indicators of the crypto market, believes Bitcoin and altcoins may soon experience significant rallies. He notes that current patterns resemble those seen before major price surges in 2017 and 2021.
Bitcoin's Technical Indicators
Bitcoin is nearing the upper boundary of its weekly Bollinger Bands, which historically has proceeded upward trends. The recent low at $76,000 could be exceeded leading to potential growth.
Outlook for Altcoins
Altcoins, according to TechDev, are turning prior resistance levels into support, which aligns with patterns observed before sharp rallies in past cycles. This suggests that in the next upward phase, altcoins may outperform Bitcoin.
According to TechDev, the global liquidity cycle, forming a 'macro bottom', may signal monetary expansion favorable to risk assets like cryptocurrencies.
