Rare Indicator Tells Us Something Great About Bitcoin

There are all kinds of catalysts that are boosting the price of Bitcoin these days. Despite the geopolitical tensions, the king coin remains strong and it’s been showing its advantages for the world.

At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $47,461.

Pseudonymous crypto analyst Tech Dev says one metric is flashing a rare signal that a massive boost for Bitcoin (BTC) is incoming.

On Twitter, he shares a Bitcoin chart with 3-week candles and a vortex indicator (VI), a metric that identifies trend reversals for any given asset.

#Bitcoin

3W Vortex Indicator crossing…

As supply last active over 1 year ago exceeds 60%…

After Dormancy Flow bottomed… pic.twitter.com/D7YV71nR1c

— TechDev (@TechDev_52) March 26, 2022

As the online publication the Daily Hodl notes, the vortex indicator metric measures two trendlines: VI+ and VI-.

According to TechDev, Bitcoin’s two VI trendlines just crossed for only the third time since 2015.

“Every single crossing has resulted in a sizeable price boost for the leading crypto asset.”

It’s also important to note the fact that the pseudonymous analyst explores Chaikin Money Flow (CMF), a metric measuring the volume-weighted average of accumulation and distribution over a set period.

Takes into account candle closing performance relative to volume to infer the relative buy/sell pressure. Crosses of the 0 line suggest a pending trend reversal on that TF.

Couple decent links: https://t.co/wpNdX7dLNshttps://t.co/jwgDjiiKYH

— TechDev (@TechDev_52) March 25, 2022

He also shows how BTC crossed the bullish line:

#Bitcoin 2W Chaikin Money Flow crossing bullish for only the 5th time in its history. pic.twitter.com/RAiIPzXRTm

— TechDev (@TechDev_52) March 25, 2022

As the same online publication mentioned above notes, TechDev pointed out that each crossing of the CMF bull line has preceded uptrends in BTC.

Stay tuned for more juicy news.