The “Reptilian” technical signal – resembling the mouth-opening mechanism of reptiles for feeding.
Alligator: Farewell to the cryptocurrency bear market
Bitcoin has surged back above $30,000 and recent upward momentum may indicate a change in trend. According to the one-week-old Williams alligator, it has started “opening its mouth to eat.”
The Williams Alligator consists of three moving averages, set at periods 5, 8, and 13. These moving averages are labeled by the creator Bill Williams as the Jaw, Teeth, and Lips of the alligator.
When the three moving averages are moving upwards and the Lips are above the Teeth and Jaw, it indicates that an asset is in an uptrend. Therefore, the chart below shows that Bitcoin is once again trending upwards.
Bitcoin trend forecast
Once Bitcoin starts trending upwards according to technical indicators and timeframes, it will continue until it reaches its peak. At that point, the Alligator will be satiated and begin to “sleep”.
Despite recent macroeconomic conditions and regulatory pressures, investors may still be sleeping on the cryptocurrency market. However, based on the Williams Alligator pattern, it suggests that the alligator has awakened and the upward trend is here.
When examining the three most recent major upward trends, the current trend closely resembles the 2020 price surge. In 2019, the alligator feasted for 50 days before reaching its peak. In 2021, it extended to 75 days. However, the largest price surge in 2020 lasted a remarkable 350 days before reversing.
As of now, the Alligator has been feasting for 125 days, surpassing both 2019 and 2021 combined. However, it has not yet completed half the journey compared to 2020. How long will the Williams Alligator continue its feast?
Analyst Tony “The Bull” believes that the Williams Alligator starts feasting and ends when the three moving averages, 5, 8, and 13, intersect and start moving downwards.
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