A popular crypto analyst says technical indicators are suggesting that Bitcoin (BTC<\/a>) is in the middle of a rapid ascent to the $160,000 mark.<\/p>\n Pseudonymous analyst TechDev tells his 439,000 followers on the social media platform X that he\u2019s watching Bitcoin\u2019s relative strength index (RSI) and its Fibonacci extension levels on the monthly timeframe.<\/p>\n The RSI is a widely used technical indicator that tracks an asset\u2019s momentum.<\/p>\n According to TechDev, every time Bitcoin\u2019s RSI broke above the mid-point of a descending channel, currently near the 65 level, BTC made a run to the 1.618 Fibonacci extension level.<\/p>\n With Bitcoin now above TechDev\u2019s channel median point, the pattern suggests BTC will rally towards its 1.618 level, currently at $160,000.<\/p>\n \u201cNo guarantees here, but I do find it interesting\u2026<\/em><\/p>\n Each time monthly RSI broke above the channel median, it went to the channel top, and Bitcoin went to the 1.618.\u201d<\/em><\/p>\n While there has been speculation on whether Bitcoin is ahead or behind its traditional four-year cycle based on halvings, TechDev says the cycle is right on time when looking at global liquidity, or the amount of dollars sloshing around in the financial system.<\/p>\n Using his global liquidity signal, plus a stochastic RSI, the analyst suggests BTC is nearing the stage where it historically enters into a parabolic move to the upside.<\/p>\n \u201cTo me, Bitcoin isn\u2019t ahead of, or behind schedule.<\/em><\/p>\n The cycle is a liquidity one.<\/em><\/p>\n It is 3.5 years peak-to-peak.<\/em><\/p>\n And each cycle\u2019s inflection point has determined Bitcoin\u2019s price acceleration and peak timing.\u201d<\/em><\/p>\n At time of writing, Bitcoin is worth $68,488.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: DALLE3<\/span><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" A popular crypto analyst says technical indicators are suggesting that Bitcoin (BTC) is in the middle of a rapid ascent to the $160,000 mark. Pseudonymous analyst TechDev tells his 439,000 followers on the social media platform X that he\u2019s watching Bitcoin\u2019s relative strength index (RSI) and its Fibonacci extension levels on the monthly timeframe. The […]<\/p>\n","protected":false},"author":2,"featured_media":221316,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-267272","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/267272","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=267272"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/267272\/revisions"}],"predecessor-version":[{"id":267274,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/267272\/revisions\/267274"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/221316"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=267272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=267272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=267272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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