Bitcoin (BTC) Is Almost Ready to Enter the Parabolic Stage of Its Market Cycle, Pseudonymous Analyst TechDev Tells His 490,300 Followers

An analyst who continues to build a following with macro crypto calls believes Bitcoin (BTC) is almost ready to enter the parabolic stage of its market cycle.

A crypto analyst with a large following on social media believes that Bitcoin (BTC) is almost ready to enter the parabolic stage of its market cycle.

The pseudonymous analyst, known as TechDev, has 490,300 followers on the social media platform X, where he shared his analysis. TechDev's analysis is based on the technical signals that Bitcoin is flashing, which he says have preceded steep rallies in the past.

In a post on May 13th, TechDev shared a chart that shows Bitcoin breaching the upper range of its Bollinger Bands on the two-month time frame. According to TechDev, this is significant because it shows that Bitcoin has been recovering from a bear market bottom for about two years now.

Traders use Bollinger Bands to identify potential periods of volatility expansion and determine whether an asset is overbought or oversold. In TechDev's analysis, he also points out that the two signals were present during the 2016 and 2020 market cycles – just before BTC ignited parabolic surges.

“This is where things have gotten exciting.”

TechDev also analyzed Bitcoin from a different perspective, suggesting that the crypto king is in the early stages of a parabolic ascent based on its logarithmic moving average convergence divergence (LMACD) indicator. The LMACD indicator is designed to reveal changes in an asset's trend, strength and momentum.

“Paying attention to the high time frames (HTFs) offers the best chance to trade the cycles.

$30,000 was not the top, because HTF expansion had not ended.

$50,000 was not the top, because HTF expansion had not ended.

$70,000 was not the top, because HTF expansion had not ended.

$90,000 was not the top, because HTF expansion had not ended.

And HTF expansion still has not ended.”

Based on the trader's chart, he seems to suggest that Bitcoin will not witness a cycle top until the LMACD on the two-month chart hits its resistance at 0.12. BTC's LMACD appears to be currently hovering at 0.04.

At time of writing, Bitcoin is trading for $97,274.