Although Bitcoin is having a tough time with prices this week It fluctuates between 93 and 96 thousand dollarsat least one popular crypto commentator is predicting a massive price rally soon.
According to Ted Boydston, the market should prepare for a manic uptrend in the coming days, with the price of Bitcoin at $225,000.
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Boydston highlights the price oscillator in M2, which provides real-time buy and sell signals for traders and investors. He then explained that the tool recently displayed a buy signal. And if history repeats itself, Boydston expects bitcoin to start rallying, benefiting holders and investors.
Oscillator chart of Bitcoin price and its M2
Boydston, a popular crypto commentator and engineer, offers some amazing insight into Bitcoin's recent price action. Although the price of Bitcoin has recently fallen, he sees a possible price increase soon.
Except for the 2016 Bitcoin cycle, a price oscillator in M2 has provided timely buy and sell signals.
Oscillator recently hit a flash buy. If the date rhymes, it means that money printing and the Bitcoin mania phase should start soon. pic.twitter.com/61RpHYudIw
— Ted Boydsto (@tboydsto) December 28, 2024
Boydston posted the M2 Price Oscillator chart on Twitter/X, indicating a buy signal. Because the M2 stock takes into account the flow of cash flows, including checking deposits, physical cash (M1), money markets, and savings, the chart provides an interesting perspective on the likely direction of the asset.
As such, this technical chart and indicator provides useful insights into the likely performance of assets, including those in the crypto space.
Bitcoin bull run soon?
Readers can find the oscillator taken from the PPO M2 in the bottom panel using a shared screenshot. The chart is red for 2023 and most of 2024, but a green or potential buy signal is flashing as we approach the end of the year.
Bitcoin's M2 price oscillator is flashing a buy signal!
With the exception of the 2016 Bitcoin cycle, this indicator is insanely accurate.
If history repeats itself, this could signal the start of money printing and another big BTC pump.
Ignore at your own risk! pic.twitter.com/zsepPXjLH0
– BitcoinHyper (@BitcoinHypers) December 28, 2024
Boydston argues that a signal like this often leads to an increase in asset prices, eventually paving the way for bullish growth.
If this scenario is realized, investors can expect an increase in volatility and an increase in the price of Bitcoin. Traders and investors have relied on this technical analysis for years and it has been making correct predictions, except in 2016. At that time the chart did not flash a buy signal, but after the Bitcoin halving event, the price went up.
Bitcoin future price action
Crypto analysts targeted the price of $100,000 for Bitcoin a few months ago. Now that this has been achieved in December, many analysts are considering new targets. Some analysts claim that Bitcoin's short-term target is $150,000, while others speculate that the asset could reach it. 1 million dollars
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With so many estimates, Boydston's estimate of $225,000 may seem the most reasonable. For Boydston, in the manic phase of Bitcoin's uptrend, a high is formed, which aligns with the 0.382 Fibonacci retracement level.
Featured image from Getty Images, chart from TradingView
