{"id":520831,"date":"2023-02-24T01:30:39","date_gmt":"2023-02-24T01:30:39","guid":{"rendered":"https:\/\/uniquehot.com\/?p=520831"},"modified":"2024-06-11T08:04:00","modified_gmt":"2024-06-11T08:04:00","slug":"bitcoin-price-building-parabolic-rally","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-building-parabolic-rally\/","title":{"rendered":"Is Bitcoin Price Building Another Parabolic Rally?"},"content":{"rendered":"

Bitcoin price<\/a> is pushing hard to maintain above $24,000, after a sustained rally to pre-FTX fallout levels.\u00a0<\/span><\/p>\n

Along the way, each bounce in price action has begun to take on a parabolic shape, which could keep the top cryptocurrencies climbing much higher.\u00a0<\/span><\/p>\n

All About Parabolic Price Rallies<\/h2>\n

Bitcoin became a household name after a parabolic rally to $20,000 back in 2017. The top cryptocurrency has yet to have as dramatic of an uptrend since then, and instead opted for smaller parabola-driven surges.<\/p>\n

Upward curving support trend lines are a characteristic of a parabolic rally<\/a>, highlighted by dip-buying behavior that drives prices higher and higher.\u00a0 <\/span>Pullbacks are quickly bought up and only when price moves far away from the curve does a correction back to it occur.\u00a0<\/span><\/p>\n

Related Reading: Forget The Moon: Bitcoin Could Target The \u201cCloud\u201d At $40K<\/a><\/div>\n

There is no denying this has been the behavior in the market in recent days, which has possibly begun to build yet another a parabolic base.\u00a0<\/span><\/p>\n

\"Bitcoin<\/p>\n

Another parabolic base appears to be building | BTCUSD on TradingView.com<\/a><\/pre>\n
Is Bitcoin Building Another Base?<\/h2>\n
The parabola in early 2023 best matches the technical environment of 2019<\/a>. In each scenario, Bitcoin put in a local bottom and was on a mission to prove it was the de facto bear market bottom.\u00a0<\/span><\/p>\n
Not only is price action following a similar structure of parabolic base building, but several technical indicators and even candlesticks match the setup from 2019. In the chart above, the LMACD shows momentum at roughly the same turning point and a similar-looking price fractal.\u00a0<\/span><\/p>\n
\"Bitcoin<\/p>\n
Bollinger Bands are exhibiting similar behavior | BTCUSD on TradingView.com<\/a><\/pre>\n
Turn on the Bollinger Bands instead, and expansion and contraction of the BBs look shocking the same. Upon closer inspection, the highlighted red box in the chart above also depict matching candlestick structures with a hammer and a long-legged doji.\u00a0<\/span><\/p>\n
Related Reading: Bears Beware: Bitcoin \u201cTrend\u201d Strengthens To Pre-ATH Levels<\/a><\/div>\n
What came after these signals was another massive push upward and a confirmation the bear market was over. BTCUSD daily charts is possibly once again building a parabolic curve, and indicators are exhibiting similar readings \u2014 Will the top cryptocurrency top higher from here and stay ahead of the curve?<\/p>\n
Follow @TonyTheBullBTC on Twitter<\/a> or join\u00a0the TonyTradesBTC Telegram<\/a> for exclusive daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is pushing hard to maintain above $24,000, after a sustained rally to pre-FTX fallout levels.\u00a0 Along the way, each bounce in price action has begun to take on a parabolic shape, which could keep the top cryptocurrencies climbing much higher.\u00a0 All About Parabolic Price Rallies Bitcoin became a household name after a parabolic rally to $20,000 back in 2017. The top cryptocurrency has yet to have as dramatic of an uptrend since then, and instead opted for smaller parabola-driven surges. Upward curving support trend lines are a characteristic of a parabolic rally, highlighted by dip-buying behavior that drives prices higher and higher.\u00a0 Pullbacks are quickly bought up and only when price moves far away from the curve does a correction back to it occur.\u00a0 Related Reading: Forget The Moon: Bitcoin Could Target The \u201cCloud\u201d At $40K There is no denying this has been the behavior in the market in recent days, which has possibly begun to build yet another a parabolic base.\u00a0 Another parabolic base appears to be building | BTCUSD on TradingView.com Is Bitcoin Building Another Base? The parabola in early 2023 best matches the technical environment of 2019. In each scenario, Bitcoin put in a local bottom and was on a mission to prove it was the de facto bear market bottom.\u00a0 Not only is price action following a similar structure of parabolic base building, but several technical indicators and even candlesticks match the setup from 2019. In the chart above, the LMACD shows momentum at roughly the same turning point and a similar-looking price fractal.\u00a0 Bollinger Bands are exhibiting similar behavior | BTCUSD on TradingView.com Turn on the Bollinger Bands instead, and expansion and contraction of the BBs look shocking the same. Upon closer inspection, the highlighted red box in the chart above also depict matching candlestick structures with a hammer and a long-legged doji.\u00a0 Related Reading: Bears Beware: Bitcoin \u201cTrend\u201d Strengthens To Pre-ATH Levels What came after these signals was another massive push upward and a confirmation the bear market was over. BTCUSD daily charts is possibly once again building a parabolic curve, and indicators are exhibiting similar readings \u2014 Will the top cryptocurrency top higher from here and stay ahead of the curve? Follow @TonyTheBullBTC on Twitter or join\u00a0the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":520834,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1057,1119,1144,78790,6664,84235,87904,4524],"class_list":["post-520831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bollinger-bands","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-lmacd","tag-parabolic-curve","tag-xbt"],"acf":[],"yoast_head":"\nIs Bitcoin Price Building Another Parabolic Rally?<\/title>\n<meta name=\"description\" content=\"Bitcoin price is pushing hard to maintain above $24,000, after a sustained rally to pre-FTX fallout levels.\u00a0 Along the way, each bounce in price action\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/uniquehot.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Is Bitcoin Price Building Another Parabolic Rally?","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-building-parabolic-rally\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-building-parabolic-rally\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/iStock-1460814910.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/iStock-1460814910.jpeg?fit=1448%2C724"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bollinger bands","btc","btcusd","btcusdt","crypto","lmacd","parabolic curve","xbt"],"dateCreated":"2023-02-24T01:30:39Z","datePublished":"2023-02-24T01:30:39Z","dateModified":"2024-06-11T08:04:00Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Is Bitcoin Price Building Another Parabolic Rally?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-building-parabolic-rally\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-building-parabolic-rally\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/iStock-1460814910.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/iStock-1460814910.jpeg?fit=1448%2C724\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bollinger bands\",\"btc\",\"btcusd\",\"btcusdt\",\"crypto\",\"lmacd\",\"parabolic curve\",\"xbt\"],\"dateCreated\":\"2023-02-24T01:30:39Z\",\"datePublished\":\"2023-02-24T01:30:39Z\",\"dateModified\":\"2024-06-11T08:04:00Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/iStock-1460814910.jpeg?fit=1448%2C724","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/520831"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=520831"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/520831\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/520834"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=520831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=520831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=520831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}