The analyst, anonymously known as TechDev, informs his 399,600 followers on Twitter that the 1-year HODL waves, an indicator which measures Bitcoin’s movement, had been inactive for the past 365 days.
When the previous records are considered, Bitcoin surged during 2012, 2015 and 2019 which was then followed by a brief rally.
pic.twitter.com/o0oiKKneGY — TechDev (@TechDev_52) July 31, 2022RSI Connection Between Bitcoin & Dow Jones StocksTechDev concludes his analysis with a comparison of data between Bitcoin’s relative strength and the first 50 Dow Jones stocks from 2012.
The strategist talks about the RSI (Relative Strength Index), which is used by traders to know the price movement of any asset and usually indicates either a strong bearish pull or bull run.
According to TechDev, an up and down price movement is formed between Bitcoin’s RSI and first 50 Dow Jones Stocks of 2012.
Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by TokenAround.