A popular crypto analyst is doubling down on a contrarian prediction that Bitcoin (BTC) is only weeks away from a massive parabolic surge well into the six-figure price range.
Aurelien Ohayon tells his 110,000 Twitter followers that the double exponential moving average (DEMA) crossing above the weekly median high and low (HL) has historically been a very reliable indicator for the beginning of Bitcoin bull runs.
The DEMA is a variation of a regular EMA designed to lessen noise and provide smoother signals, while the median high and low is similar to a moving average but uses medians rather than averages.
“BITCOIN BULL RUN BEGINS.
When the weekly double EMA 100 crosses the weekly median hl2, 2, 14, 4, historical Bull Runs begin.”
Ohayon also takes a look at the weekly Chande Kroll Stop indicator, which calculates elements of an asset’s volatility to pinpoint potential entry points or stop losses for traders. According to the analyst, the indicator just signaled that the Bitcoin bull run is underway.
“When BTC hits the weekly Chande Kroll Stop 40, 1, 16, historic bull runs begin.”
Lastly, the analyst says that Bitcoin is mimicking its post-Covid crash price action from 2020 nearly perfectly today. He shares a chart depicting BTC recovering from a price dip before finding stability on a diagonal support line and then taking off to new highs. Based on the fractal, the king crypto is ready for much higher prices, according to Ohayon.
At time of writing, Bitcoin is worth $28,608.
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The post Historic Bitcoin (BTC) Bull Run Underway, Says Popular Crypto Analyst – Here’s His Forecast appeared first on The Daily Hodl.
