Market

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. ”

Source: Svenson

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.

https://twitter.com/CryptoYurii/status/1469667692655353857?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener
“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. ”

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page

CoinX

Recent Posts

Best New Meme Coins with 1000X Potential: BTFD Coin’s Hot BIG50 Discount As Baby Doge Coin, Dogs Takes Gaming to the Next Level

Explore the best new meme coins with 1000X potential. Learn how BTFD Coin leads with…

24 minutes ago

BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability

BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…

2 hours ago

Qubetics Presale Price Surge Approaches: The Best Coins to Invest in Right Now While Toncoin, and XRP Gain Traction

Discover why Qubetics, Toncoin, and XRP are the best coins to invest in right now.…

2 hours ago

Book of Meme Old News? This Best Meme Coin to Invest in 2024 Is Multiplying Gains Like a Champ

Over the years, meme coins have evolved from inside jokes into serious investment opportunities.

3 hours ago

Time’s Ticking on BlockDAG’s 5-Tier Bonus- Few Days Left to Grab It While Cardano Whales Take Action, Aave Rallies Strong

Discover BlockDAG's five-tier bonus program's closing phases that enhance buyer holdings. Gain insights on the…

4 hours ago

Best Altcoins to Buy for 2025: Qubetics Presale Surge, Solana’s Lightning Speed, and Cardano’s Blockchain Revolution

Discover why Qubetics, Solana, and Cardano are redefining the crypto landscape. Learn about milestones, price…

5 hours ago

This website uses cookies.