Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Is Bitcoin Following an Early 90s Stock Market Pattern? Crypto Analysts Make Bullish Case for BTC

by Daily Hodl Staff
April 13, 2022
in Bitcoin

Crypto analysts are theorizing the latest Bitcoin (BTC) correction could be part of a longer-term pattern that precedes major price appreciation.

In a new tweet, the popular pseudonymous analyst TechDev shows his 383,000 Twitter followers a chart bearing striking similarities between the Dow Jones Industrial Average (DJI) in 1991 and Bitcoin today.

Both charts show price rallying, then collapsing below the 200-day moving average, and then making one failed attempt to get above the 100-day moving average.

“Interesting structure last 8 months.

Dow Jones ‘91 vs. Bitcoin ‘21-22.”

Image
Source: TechDev/Twitter

After the failed attempt to get above the 100-day day moving average, the Dow Jones then made a surprise recovery and blasted through the 200-day moving average at the beginning of 1991 and continued to appreciate for most of the year.

The latter part of the pattern hasn’t yet played out for BTC, which could imply imminent Bitcoin rallies, according to TechDev.

The analyst also points out that both the BTC and DJI charts appear to be emulating a pattern known as the Sentiment Cycle, originally popularized by stock market technician Justin Mamis in his book The Nature of Risk.

TechDev retweets a chart first shared by analyst Rickus that compares BTC’s recent price action with the Sentiment Cycle.

Image
Source: TechDev/Rickus/Twitter

Backing up his bullish thesis, TechDev also looks at a Bitcoin chart with 3-week candles and a vortex cross indicator, which identifies trend reversals. According to his interpretation of the chart, the analyst says that BTC is currently mirroring the price action of late 2020, right before Bitcoin took off on a rally that lasted half a year.

“So far this 3W BTC candle resembles the one that followed the last bullish Vortex cross.”

Image
Source: TechDev/Twitter
Check Price Action

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Anselia

Submit a Press Release

Industry Announcements

  • Swappi’s New Launchpad Feature To Bring IDOs to Conflux
    May 20, 2022
  • First Global Web 3.0 Eco Innovation Summit Comes to Singapore
    May 20, 2022
  • Wombat Soars to $40 Million in Total Value Locked While Still at Beta
    May 20, 2022
  • Babel Finance Used Collateralized eNote on FQX’s Solana DApp via Fireblocks
    May 19, 2022
  • Top Solana Play-to-Earn Contender DeFi Land Launches Its First Play-and-Earn Game
    May 18, 2022
  • Sneakmart Announces a Collaboration With StockX on Its First Metakicks Drop
    May 18, 2022
  • Everyrealm and Storyverse Partner To Create Interactive Stories for NFT Communities
    May 18, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$30,036.00
$30,036.00
1.63%
Ethereum
$2,014.63
$2,014.63
1.39%
Cardano
$0.537701
$0.537701
0.69%
XRP
$0.417997
$0.417997
0.05%
Dogecoin
$0.086131
$0.086131
0.56%

Spotlight

  • Binance CEO Breaks Silence, Says Terra (LUNA) Should Have Handled the Collapse Differently
    May 15, 2022
  • Luna Foundation Guard Reveals It Sold More Than $2,400,000,000 in Bitcoin (BTC) at Height of TerraUSD Collapse
    May 18, 2022
  • One Metric Indicates Bitcoin (BTC) Could Crash by Over 50% As Macro Environment Worsens, Says CryptoQuant CEO
    May 21, 2022
  • Bitcoin Gearing Up for a Big Move in the Next Three Months, Says Crypto Strategist – Here Are His Targets
    May 16, 2022

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX

© 2022 The Daily Hodl