A popular crypto analyst doubles down on the contrarian prediction that Bitcoin (BTC) is just weeks away from a massive parabolic surge well into the six-digit price range.
Aurelien Ohayon tells his 110,000 Twitter followers that the double exponential moving average (DEMA) crossing above the weekly median high and low (HL) has historically been a very reliable indicator of the start of Bitcoin bull runs.
The DEMA is a variation of a regular EMA designed to reduce noise and provide smoother signals, while the median high and low is similar to a moving average but uses medians instead of averages.
“BITCOIN BULL RUN BEGINS.
When the weekly double EMA 100 crosses the weekly median hl2, 2, 14, 4, historic Bull Runs begin.
Ohayon also looks at the weekly Chande Kroll Stop indicator, which calculates elements of an asset’s volatility to pinpoint potential entry points or stop losses for traders. According to the analyst, the indicator just indicated that the Bitcoin bull run is underway.
“When BTC hits the weekly Chande Kroll Stop 40.1.16, historic bull runs begin.”
Finally, the analyst says Bitcoin is mimicking its post-Covid crash price action from 2020 almost perfectly today. He shares a chart that shows BTC recovering from a price drop before finding stability on a diagonal support line and then rising to new highs. Based on the fractal, the king crypto is poised for much higher prices, according to Ohayon.
At the time of writing, Bitcoin is worth $28,608.
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Image generated: Midway through the journey
