Analyst Predicts Massive Rallies for Bitcoin and Altcoins

A closely followed analyst believes Bitcoin (BTC) and altcoins are about to ignite massive rallies, leaving paper-handed investors on the sidelines.

Pseudonymous analyst TechDev shares this prediction with his 516,300 followers on the social media platform X, indicating that Bitcoin and altcoins show a technical setup similar to those preceding steep rallies during the 2017 and 2021 bull cycles.

Bitcoin’s Potential Surge

TechDev shares a chart suggesting Bitcoin is poised to break through the upper boundary of its weekly Bollinger Bands, recovering from a recent low of $76,000. The Bollinger Bands serve as a volatility indicator, signaling a potential bullish breakout if an asset crosses the upper band.

Altcoins Transitioning to Support

Concurrently, TechDev points out that the altcoin market appears to be transforming a former resistance level into support amidst the ongoing correction. This pattern mirrors price action seen in previous cycles before significant upward movements.

“This has always been the setup.
Every single time.
BTC hits the expansion line…
Volatility surges…
Alts retest yellow…
Top calls get loud.
Then they get left behind.
Market caps grow. Psychology doesn’t.”
(Source: TechDev/X)

The analyst believes his perspective on Bitcoin and altcoins is further bolstered by a bullish outlook on the liquidity cycle, which tracks the flow of capital in and out of financial markets. He suggests the liquidity cycle is carving a macro bottom, hinting at an upcoming phase of monetary expansion.

“You continue to pin your hopes on the narrative of the month.
The cycle is much bigger and does not care.”
(Source: TechDev/X)

Altcoins Expected to Outperform

Delving deeper into the altcoin market, the trader predicts that altcoins will outperform Bitcoin in the upcoming phase, based on the cycles of the Bitcoin dominance (BTC.D) chart, which reflects Bitcoin’s share of the total crypto market cap.

“Stage when alts dominate is ahead not behind.”
(Source: TechDev/X)

A declining BTC.D chart within a bullish environment suggests that altcoins are increasing in value at a faster rate than Bitcoin.

At the time of writing, BTC is trading at $83,036.

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