Back with you all, this time to socialize good news about the visible breakout being revealed by the DCA technical indicator in the Bitcoin price action, indicating a potential uptrend restart.
Before moving forward, I should note that the DCA indicator is an investment strategy in which a buyer allocates a fixed amount of capital to gain exposure to an asset at set intervals.
William Suberg's column in Cointelegraph disclosed as expressed by cryptocurrency market analyst Mohit Sorout, "Bitcoin's latest metric to turn bullish on long time frames, DCA, is even getting attention from mainstream Bitcoin investment circles."
It was also highlighted that its DCA indicator buy signals are rare, however, only three throughout Bitcoin's history but all that prevented a serious rise in BTC price.
It was inferred that amid an atmosphere of growing faith that Bitcoin's recovery in 2023 is warranted, others were also willing to give the recent breakout the benefit of the doubt.
In this vein, before trading it is necessary to consider additional technical indicators that give us a greater perspective on the price action, this for the purpose of increasing our odds of getting it right.
SOURCES CONSULTED
Cointelegraph Bitcoin metric prints ‘mother of all BTC bullish signals’ for 4th time ever. Link
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating the public domain image background: Cointelegraph
