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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 ...

Bitcoin (BTC) is grappling with key resistance below the $45,000 mark despite a recent surge linked to speculation about approving a spot exchange-traded fund (ETF) in the United States.   This comes as the prevailing market sentiment suggests that Bitcoin is poised for a potential rally , aiming to reach a new all-time high.  In line with this, an Analysis by crypto trading expert Tradingshot, posted on TradingView on December 29, highlights that Bitcoin’s parabolic rally may be imminent if it successfully b reach es the significant resistance at $48,500. Tradingshot observed that Bitcoin has witnessed substantial mid-cycle growth over the past two months, edging closer to the pivotal $50,000 level. The expert emphasized that surpassing the $48,500 resistance could mark the commencement of the parabolic phase of the bull cycle. Bitcoin price analysis chart. Source: TradingView Cryptocurrency Top 3 cryptocurrencies of 2023 with the bigge...