Although Bitcoin is having a rough moment this week, with prices oscillating between $93k and $96kat least one popular crypto commentator predicts a major price run in the near future.
According to Ted Boydston, the market should prepare for a manic bull run in the coming days, with the Bitcoin price targeting $225k.
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Boydston highlights the price oscillator on M2, which offers traders and investors real-time buy and sell signals. He then explained that the tool recently showed a buy signal. And if history repeats itself, Boydston expects Bitcoin to begin its price rise, which will benefit owners and investors.
Bitcoin and its price chart M2 Oscillator
Boydston, a popular crypto commentator and engineer, offers a fascinating insight into Bitcoin's recent price action. Although the price of Bitcoin has slipped recently, he sees a possible price increase in the near future.
In addition to the 2016 Bitcoin cycle, the price oscillator on M2 has provided well-timed buy and sell signals.
The oscillator recently launched a buy. If history verses, this means printing money and the manic level of Bitcoin should start soon. pic.twitter.com/61RpHYudIw
— Ted Boydston (@tbydsto) December 28, 2024
Boydston posted an M2 price oscillator graph on Twitter /X, indicating a Buy signal. Since M2 money stock considers the distribution of liquid money, including checking deposits, corporate money (M1), money markets, and savings, the chart provides an interesting view of the path to assets could have.
Therefore, this technical chart and indicator offers helpful insights into potential asset performance, including those in the crypto space.
A Bitcoin Bull Run Soon?
Readers can find the oscillator taken from the PPO of M2 at the bottom panel using a shared screenshot. The chart was showing red for 2023 and most of 2024 but flashing a green or potential buy signal as the year draws to a close.
Bitcoin price oscillator at M2 is flashing a BUY signal!
With the exception of the 2016 Bitcoin cycle, this indicator has insane accuracy.
If history repeats itself, this could mark the beginning of money printing and another big BTC pump.
Avoid it at your own risk! pic.twitter.com/zsepPXjLH0
— BitcoinHyper (@BitcoinHypers) December 28, 2024
Boydston argues that such a signal often leads to an increase in asset prices and eventually paves the way for a bull run.
Investors can expect more volatility and Bitcoin price appreciation if this scenario pans out. Traders and investors have relied on this technical analysis for years, offering accurate predictions, except in 2016. The chart did not put down the buy signal then, but the price went up after the Bitcoin halving event.
Bitcoin future price action
Crypto analysts focused on the $100k mark for Bitcoin a few months ago. Now that this has already been achieved in December, many analysts are setting their sights on new targets. Some analysts claim that Bitcoin's short-term target is $150k, while others predict that the asset could hit $1 million.
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Given enough estimates, Boydston's prediction of $225k is probably the most logical and feasible. For Boydston, in the manic phase of Bitcoin's bull run, a ceiling is forming, aligning with the Fibonacci retracement level of 0.382.
Featured image from Getty Images, chart from TradingView
