Zooming out, one Bitcoin price indicator led top crypto analyst TechDev to believe that BTC/USD would see a new all-time high before its next block subsidy halving in 2024.
TechDev flagged the True Strength Index (TSI) for Bitcoin, a metric that uses several base calculations to determine how overbought or oversold the asset is at a particular price.
"As such, I expect:
- Intermediate wave 5 top at 80-120K in 2023
- Primary wave 4 down to 30-50K in 2024
- Primary wave 5 over 200K in 2025 to conclude cycle wave 3"
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