Cryptocurrency trader and strategist Ali Martinez is sharing optimistic views on both a Dogecoin (DOGE) competitor and Bitcoin (BTC), highlighting potential buy signals and upward trends.
According to Martinez, the Tom Demark (TD) Sequential indicator is currently “flashing a buy signal” for Shiba Inu (SHIB), suggesting that SHIB might be gearing up for an upswing. The TD Sequential indicator is commonly used to predict potential market trend reversals. Martinez urges investors to keep a close watch on SHIB, anticipating a climb to $0.010 or even reaching $0.011. Presently, Shiba Inu is trading at $0.00000903.
Shifting attention to Bitcoin, Martinez relies on historical precedent and analyzes the Market Value to Realized Value (MVRV) to predict a potential rally of approximately 41% from the current BTC level.
The MVRV is a ratio comparing Bitcoin’s market capitalization to its realized capitalization, representing the value of all Bitcoin at the price they were acquired. Extreme deviation pricing bands in the MVRV are used to identify possible market bottoms and tops, with the 1.0 standard deviation serving as the upper band and -1.0 standard deviation as the lower band.
Martinez points out that during past bull markets, Bitcoin exhibited strong rebounds after touching the mean MVRV pricing band. Observing a similar pattern now, with the recent bounce from the mean MVRV at $40,500, Martinez suggests the potential for BTC to surge to the 1.0 standard deviation line at $60,000.
