According to KOL TechDev, BTC will continue to move higher despite ongoing geopolitical tensions

A well-regarded analyst says Bitcoin (BTC) investors needn’t worry about ongoing geopolitical tensions as the charts tell a different story.

Analyst nicknamed TechDev to speak to his 362,600 Twitter followers that he prefers to go against the consensus despite macroeconomic and geopolitical factors showing uncertainty in the markets.

Some ignore the news.

You are angry, slightly emotional.

The charts tell me bitcoin is going much higher.”

To support his thesis, the analyst offers a number of indicators that a rally is imminent.

TechDev says it looks at the Relative Strength Index (RSI), a momentum indicator, as well as other metrics including the quiescent current, which describes the performance of older coins, and the stablecoin supply ratio (SSR), which compares the purchasing power of stablecoins on the market with BTC.

According to the analyst, these technical indicators suggest that BTC is likely in the final stages of a year-long correction.

“Why BTC hasn’t been propelled higher since early 2021:

+ Symmetrical wave
+ Volume down
+ Price touches the upper signal line (in blue)
+ RSI corrected
+ Quiescent flow decreases + near the bottom
+ SSR oscillator falls + near the bottom

BTC is nearing the end of a year-long correction.”

The source: TechDev/Twitter

Looking closely at the SSR, the analyst reiterated that it has reached a level that suggests Bitcoin has bottomed and is preparing for a strong rally.

“Bitcoin cycle impulses and corrections are reflected in the stablecoin Supply Ratio Oscillator.

Get ready for the next wave of bulls.”

The source: TechDev/Twitter

Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

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