Rally

Parabolic

Bitcoin

Time

Pyth Network

<div class="finbold">
 <p class="paragraph">Bitcoin (BTC) has predominantly remained in consolidation below the $70,000 mark over the past few days, with the market awaiting a potentially decisive move amidst prevailing bullish sentiments, such as the upcoming halving event.</p>
 <p class="paragraph">Amid this uncertainty, crypto trading expert <em>TradingShot,</em> in an April 9 post on <em>TradingView, </em>suggested that the current consolidation <a rel="noopener noreferrer nofollow" title="presents" href="https://thebittimes.com/tag/presents.html">presents</a> an opportunity for investors, projecting a possible <a rel="noopener noreferrer nofollow" title="parabolic" href="https://thebittimes.com/tag/parabolic.html">parabolic</a> <a rel="noopener noreferrer nofollow" title="rally" href="https://thebittimes.com/tag/rally.html">rally</a>.</p>
 <p class="paragraph">The analysis suggests that the current consolidation phase around the previous all-time high of almost $69,000 is a clear buy signal reminiscent of patterns from previous cycles.&nbsp;</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Machine learning algorithm sets Dogecoin price for April 30, 2024 <span class="self-center text-xs text-slate-500">5 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Massive sell-off alert amid $300 million token unlock on Friday <span class="self-center text-xs text-slate-500">1 hour ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Portofino Technologies joins Pyth Network as a new data provider <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    The 'degenerate' diaries: Unpacking the tactics of r/wallstreetbets traders <span class="self-center text-xs text-slate-500">3 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">According to <em>TradingShot’s</em> assessment, this might be the last opportunity for investors to buy before a <a rel="noopener noreferrer nofollow" title="rally" href="https://thebittimes.com/tag/rally.html">rally</a> begins.&nbsp;</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“The current consolidation around the previous All Time High (ATH) region is a clear buy signal, in fact, based on the 2014/17 Cycle, it is the last we might get before the Parabolic Rally (green) phase starts,” the expert said.&nbsp;</p>
 </blockquote>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/q4bKEpk9PqtGpFBIwbf0-FHmg0bnNA-z3W9rLT-xoOo-z8ZzMbAaHgVxNmn17AKDpBR1Sqi66FyJM5ZCGtjNO4iUhpL-Xz88UavDUrYAH1RMHbTs2gNAiWGLWK3dbRFcs6utGBCRXMTwFOlrcrJnHv0" alt>
  <figcaption class="wp-element-caption"><em>Bitcoin price analysis chart. Source: TradingView</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-historical-similarities-in-bitcoin-s-past-cycles">Historical similarities in Bitcoin’s past cycles</h2>
 <p class="paragraph"><em>TradingShot</em> pointed out similarities between the current situation and past cycles. Both cycles began with a falling wedge pattern leading to a bottom, followed by an accumulation phase once the price broke above the 1W MA50 (Weekly Moving Average 50). This initial surge led to the first take-off phase to test the record high.</p>
 <p class="paragraph">One key indicator in the analysis is the 1W RSI (Relative Strength Index), which is likely to remain overbought from this point onward until the top of the cycle. While not central to the current idea, it suggests that Bitcoin could reach at least $200,000 during this cycle.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-struggles-to-break-past-70-000">Bitcoin struggles to break past $70,000</h2>
 <p class="paragraph">The analyst’s projection is based on Bitcoin’s struggle to maintain its price above the $70,000 mark. Notably, on April 8, Bitcoin briefly surged above $72,000 before undergoing a correction.&nbsp;</p>
 <p class="paragraph">However, the likelihood of Bitcoin reclaiming this position has diminished after the releasing higher-than-expected inflation data.</p>
 <p class="paragraph">Specifically, the headline inflation rate year-over-year (YoY) reached 3.5%, slightly surpassing the projected 3.4%. This development is expected to influence the Federal Reserve’s policy on interest rates.</p>
 <p class="paragraph">Despite the short-term correction, the market remains optimistic about Bitcoin’s potential <a rel="noopener noreferrer nofollow" title="rally" href="https://thebittimes.com/tag/rally.html">rally</a>, fueled by bullish catalysts such as the upcoming halving. Additionally, investors are closely monitoring Bitcoin’s response to the potential approval of a spot exchange-traded fund (ETF) in Hong Kong later this month. It’s worth noting that Bitcoin’s recent performance has been partly due to the approval of a similar product in the United States.</p>
 <p class="paragraph">At the time of writing, Bitcoin was trading at $68,510, reflecting a loss of over 1% on the daily chart.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-s-last-call-btc-presents-buy-signal-before-parabolic-rally-tbt85030.html">https://thebittimes.com/bitcoin-s-last-call-btc-presents-buy-signal-before-parabolic-rally-tbt85030.html</a></p>

Bitcoin’s last call: BTC presents buy signal before parabolic rally

目次

TheBitTimes

2024年4月10日公開の他の記事

Bitcoin Nears Two Important On-Chain Levels: What Happened Last Time

The Evolution Of Online Casinos: Trends Shaping The Future

Halving Event Is Almost Here, Is It Time to Sell BTC and Altcoins? Which Cryptocurrencies Are Poi...

Impact of Hostile Regulations on Bitcoin (BTC) Price

Meme Stock Rout Continues as Inflation Report Spooks Investors

Quant Price Forecast: What Next On The QNT Crypto Price Chart?

ニュースレターを購読して暗号資産の最新情報を毎日入手！