One of the most prominent crypto-strategists believes that bitcoin (BTCThe final sharp rally in its trend is about to begin.
Kevin Svenson, an analyst from the MIT Media Lab provides a video update. Tells His 142,100 Twitter followers on the platform X said that Bitcoin was about to enter the final leg of its parabolic rally and could reach prices as high as $100,000.
Bitcoin may be about to reach the last vertical point of the trend parabolic, which would represent a huge, massive move. Bitcoin currently sits in base four. We could reach $90,000 once we confirm base four by breaking a new record high. It’s not as small a move as it appears on the chart.
The MACD weekly (moving-average convergence divergence) is one indicator that suggests that this may happen within the next two months. In a trend based on momentum, it is crucial to maintain the neutral zone.
MACD is an indicator used to gauge the strength of a particular trend. Svenson says that Bitcoin is repeating a pattern seen in 2017, when it sparked large rallies following the MACD neutral area.
Look at 2017 “Look at 2017” In 2017, when we went up from a few hundred dollars to over $20,000 we kept the MACD in neutral on each pullback. The next big parabolic move was a massive increase for Bitcoin.
Bitcoin has a clear pattern that is similar to a pattern of continuation: keep the neutral area. [and then] According to the textbook, parabolic advancement will give us the next vertical push towards the sale point.
Does the Bitcoin Cycle end at the Sell Point? No. No.
Bitcoin was worth $66 557 at the time this article was written.
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