Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Crypto analyst TechDev has provided insights into the Bitcoin future trajectory. The analyst suggested that the flagship crypto has yet to reach its full potential in this market cycle and that more price surges lie ahead for the crypto token.\u00a0\u00a0 Not Yet Time For A Bitcoin Blowoff Top TechDev remarked in an X (formerly Twitter) post that the Bitcoin blowoff tops only happen after the four-week Chaikin money flow (CMF) breaks a line he highlighted on the accompanying chart. His analysis suggests that Bitcoin is still bound to make a parabolic move to the upside before it experiences a significant decline.\u00a0 Related Reading: Solana On-Chain Indicators Suggests A Return Of Bullish Sentiment, Is It Time To Buy SOL? Blowoff tops are a chart pattern that shows the rapid increase in an asset\u2019s price followed by a sharp drop in its price. TechDev\u2019s chart showed that something similar happened in the previous bull cycles, with Bitcoin enjoying a parabolic uptrend for about a year before its price dropped sharply.\u00a0 Similarly, based on TechDev\u2019s chart, Bitcoin is again set to enjoy a parabolic uptrend from now to sometime in 2025 before it reaches its market top and begins to decline significantly. In another X post, the analyst suggested that the time has almost for Bitcoin to enjoy its next leg up. As crypto analyst Rekt Capital claimed, this next move to the upside will take Bitcoin into the \u2018parabolic uptrend\u2019 phase of this market cycle.\u00a0 Interestingly, this breakout for Bitcoin could happen sooner than expected, with TechDev claiming that in 18 days, Bitcoin will have a chance at a breakout that it has only seen once in its entire history. From a chart he shared, TechDev hinted at Bitcoin rising to as high as $190,000 in this bull run.\u00a0 It is also worth mentioning that crypto analyst CrediBULL Crypto recently predicted that a Bitcoin breakout is imminent. He said Bitcoin would \u201cabsolutely giga send\u201d in seven to ten days and rise to as high as $100,000 when this move happens.\u00a0 Bitcoin\u2019s Breakout May Still Take A While Crypto analyst Rekt Capital recently stated that Bitcoin\u2019s breakout from this Re-Accumulation range would occur in September 2024 if history repeats itself. The crypto analyst claimed that Bitcoin’s struggle to break out from this Re-Accumulation range is \u201cbeneficial for the overall cycle.\u201d Related Reading: DOGE To The Moon: This Dogecoin Metric Just Turned Bullish For The First Time Since 2020 He noted that Bitcoin has never broken out this early in the post-halving period. Rekt Capital remarked that a Bitcoin breakout this early means that this cycle would be accelerated and that the bull market would be shorter than usual. As such, he believes that this lengthy consolidation is helping Bitcoin\u2019s price resynchronize with historical halving cycles so that the market can experience a \u201cnormal and usual bull run.\u201d At the time of writing, Bitcoin is trading at around $66,900, down almost 1% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":624723,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-624711","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\n
Analyst Who Correctly Predicted Bitcoin\u2019s Surge And Crash Reveals Where Price Is Headed Next<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n