Is Bitcoin About to Soar? Analyst’s Prediction Sparks Excitement
Aurelien Ohayon, a well-known crypto analyst, has made a bold prediction that Bitcoin (BTC) is about to experience a significant parabolic surge into the six-figure price range in the coming weeks.
According to Ohayon, the double exponential moving average (DEMA) crossing above the weekly median high and low (HL) is a highly reliable indicator for the beginning of Bitcoin bull runs.
The DEMA is a variation of the exponential moving average (EMA) that reduces noise and provides smoother signals, while the median high and low is a type of moving average that uses medians instead of averages.
Ohayon has pointed out that historical data supports his prediction. In the past, when the weekly double EMA 100 crossed above the weekly median HL2, 2, 14, 4, it marked the beginning of Bitcoin bull runs.
#BITCOIN BULL RUN BEGINS.
When the weekly double EMA 100 crosses the weekly median hl2, 2, 14, 4, historical Bull Runs begin. pic.twitter.com/XApmfsTs7h
— AO (@AurelienOhayon) April 28, 2023
Moreover, Ohayon has analyzed the weekly Chande Kroll Stop indicator, which calculates an asset’s volatility to identify potential entry points or stop losses for traders.
#BITCOIN BULL RUN BEGINS.
When BTC hits the weekly Chande Kroll Stop 40, 1, 16, historic Bull Runs begin. pic.twitter.com/KBQrTqFXdt
— AO (@AurelienOhayon) April 28, 2023
He claims that the indicator has just signaled the start of a Bitcoin bull run, indicating that the price of Bitcoin is likely to rise in the coming weeks.
READ MORE: Ethereum: Price Experiences Decline – Possible Reasons
To support his prediction, Ohayon has also shared a chart that depicts Bitcoin’s post-Covid crash price action from 2020. He notes that Bitcoin is currently following a similar pattern, with BTC recovering from a price dip before finding support on a diagonal support line and then soaring to new highs. Based on this fractal, Ohayon believes that Bitcoin is poised for much higher prices.
At the time of writing, the price of Bitcoin is $28,608, and many in the crypto community are eagerly anticipating the potential price surge that Ohayon has predicted.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
