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Bitcoin Charts Building a Pump?

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Analyst TechDev tells his 413,900 Twitter followers that Bitcoin is on the edge of surging, either like early 2016 or late 2020.

His chart seems to back up his prediction?

“Bitcoin sure looks to be building a macro parabola.

Question is whether this one will be steeper like late 2020, or shallower like early 2016.

Not a bad position for macro investors.”

TechDev says that Bitcoin has flipped a previous price impulse to support amid a strong bounce off the 20 and 50 exponential moving averages. He compares it to a move made by the Nasdaq in 2010.

The analyst also highlights the 20-week and the 50-week moving averages (MAs), which he points out have printed a bullish crossover for the first time ever.

“Today, Bitcoin’s 20-week MA crossed above its 200-week for the first time ever.

Could mean nothing. Just worth noting.”

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