Bitcoin

when

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-bitcoins-potential-price-surge-using-key-indicators/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analyst Predicts Bitcoin’s Potential Price Surge Using Key Indicators</a><br></p>
<p style="text-align: justify">A popular <a href="https://en.coin-turk.com/bitcoin-dips-below-69500-as-investors-take-profits/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/trump-attracts-crypto-investors-with-new-moves/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> analyst suggests that three indicators analyzing Bitcoin’s price action indicate that the <a href="https://en.coin-turk.com/mango-dao-proposes-agreement-with-sec-following-major-attack/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> has not yet seen its peak. The analyst shared a chart with followers on the social media platform X, detailing Bitcoin’s liquidity cycle, the Relative Strength Index (RSI), and the Fisher Transform Indicator.</p>
<h2 id="rsi-and-fisher-transform-indicator">RSI and Fisher Transform Indicator</h2>
<p style="text-align: justify">The RSI is a momentum oscillator used to determine whether an asset is overbought or oversold. RSI values between 70 to 100 indicate that the asset is overbought, while values between 0 to 30 suggest it is oversold. The analyst also utilizes the Fisher Transform Indicator to identify trend reversal points.</p>
<h2 id="china-s-10-year-bonds-and-m2-money-supply">China’s 10-Year Bonds and M2 Money Supply</h2>
<p style="text-align: justify">The chart shared by the analyst compares Bitcoin’s price with China’s 10-year bonds (CN10Y) and the seasonally adjusted money supply measurement M2SL in the U.S. The data suggests that a widening of CN10Y relative to M2SL could trigger significant upward movements in Bitcoin .</p>
<p style="text-align: justify">The analyst’s assessments indicate that both the RSI and Fisher Transform Indicator are exhibiting similar patterns to those observed before the significant Bitcoin rally in 2017. These indicators suggest that Bitcoin’s current price movements may signal the beginning of a new upward trend.</p>
<p style="text-align: justify">As of writing, Bitcoin is trading at $57,793. The charts and indicator analyses shared by the analyst imply that Bitcoin might be in the early stages of a potential parabolic rise. Although such analyses may not be crucial for investors, they can serve as indicators of overall market trends.</p>
<p style="text-align: justify">Investors are urged to conduct their own research and consider risks when making investment decisions related to Bitcoin or other digital assets. It is emphasized that the indicators presented by the analyst should be regarded as guidance for investors, rather than definitive investment advice.</p>
<p>The post <a href="https://en.coin-turk.com/analyst-predicts-bitcoins-potential-price-surge-using-key-indicators/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analyst Predicts Bitcoin’s Potential Price Surge Using Key Indicators</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Analyst Predicts Bitcoin’s Potential Price Surge Using Key Indicators

Table of Contents

COINTURK NEWS

Other articles published on Sep 12, 2024

Uniswap Founder Hayden Adams Refutes Claims of Charging Fees for Protocol Launch

Ireland to probe Google’s AI model for data protection compliance

Analysts Share Insights on Market Trends

Ceffu Deposits Over 7,600 BTC to Binance in the Past Month, $38.6M Transferred in Latest Transaction

Experts Predict Crypto Price Surges Soon

CryptoPunks NFT Worth $1.5M Sold for $23,000

Join our free newsletter for daily crypto updates!