Bitcoin enters ‘early parabolic rally levels’; Is $100k next?
With Bitcoin (BTC) facing resistance at the $70,000 mark, a significant part of market anticipation is that the maiden crypto will maintain the current bullish momentum to target another record high. Amid the current price movement, crypto trading expert TradingShot observed in a TradingView post on July 29 that Bitcoin is demonstrating strong signs of entering an early parabolic rally. This pattern elevates speculation about Bitcoin’s potential to reach the coveted $100,000 mark. The expert suggested that Bitcoin’s price movements have historically adhered to a cyclical movement, with distinct phases of accumulation, consolidation, and parabolic growth. The ‘Parabolic Growth Channel’ is a crucial reference point for these cycles. Picks for you U.S. recession indicator dangerously close to trigger ...