Bitcoin moves in a classic pattern and will soon explode again, according to top analysts
A prominent analyst says Bitcoin will see a strong six-digit rally as it follows a pattern well known in the stock market.
Crypto strategist Kevin Svenson first suggested a triple top and dome in June when Bitcoin struggled to hold $ 30,000.
At the time, Svenson said that Bitcoin was building a bear trap as it formed the basement level of the structure first identified by George Lindsay in 1970.
“George Lindsay said that the basement is basically a bear trap … So it would be a really good bear trap if the price kept going up to the first floor. This means we can expect an upward move into the $ 50,000- $ 60,000 zone in the next month or two to form the first floor. After that, BTC could see a boom to $ 200,000. ”
Six months later, Svenson to speak to its 64,900 YouTube subscribers that Bitcoin has now gone through the “basement” phase and is acting on the “first level” of the structure.
The well-known analyst Yurii also supports this view. He believes that Bitcoin will soon break out of the first stage and enter a phase of parabolic growth.
#Bitcoin Three Peaks and the Dome House????
– Yurii ️ (@CryptoYurii) December 11, 2021
“The model of three peaks and a dome.
The first stage is not perfect, but the model fits the # BTC cycle and the blow-off top theory. ”
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