Bitcoin's 4th-ever DCA indicator breakout could mean 'raging' bull market, argues singhsoro.
refers to an investment strategy whereby a buyer allocates a set amount of capital to gain exposure to an asset at set intervals. This could be buying $10 per week in Bitcoin, for example, and the concept is regularly touted as an optimal way of gaining exposure to volatile cryptocurrencies.
The DCA Indicator measures the relative profitability of a hypothetical DCA strategy involving $1 buys per day for a year. Once it crosses into profitable territory, marked as 365 on its scale, major bull markets begin, Sorout argues. An exception appears to be mid-2022, when a move above the 365 mark subsequently reversed and BTC/USD began its journey to multi-year lows near $15,600.
Nonetheless, amid an atmosphere of increasing faith in Bitcoin’s 2023 recovery enduring, others were also willing to give the latest breakout the benefit of the doubt.in a repost of Sorout’s findings.Beyond DCA, another rare bull signal this month comes in the form of the Williams %R Oscillator, Cointelegraph
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