Bitcoin Pattern Reveals Massive Rally Ahead
The crypto market looks pretty bloody today, with most important digital assets trading in the red.
Bitcoin is also trading in the red at the moment of writing this article, but the optimistic Bitcoin-related predictions continue.
Bitcoin has been moving up and below $10k, and traders are looking to chart the short-term path ahead.
The DailyHodl publication revealed that analyst and crypto writer “Nunya Bizniz,” a person who has 4,700 followers on Twitter, predicts a bright future for the coin.
A massive BTC rally is on its way
The person says that if a previous BTC pattern holds, the coin is set for a massive upside move really soon.
It’s important to note that in the past when Bitcoin had three or more negative weekly candles in the midst of an overall bull run, the coin begins to rally, says Bizniz.
Occasions where Bitcoin had 3+ consecutive negative weeks within a bull trend. pic.twitter.com/tthihB64Rf
— Nunya Bizniz (@Pladizow) September 3, 2019
The online publication mentioned above also mentioned analyst Kiril Nikolaev says the pattern actually holds as far back as 2013.
They also bring up analyst Josh Rager who said not too long ago that if BTC can surge above the $12K critical level, it will probably be on track to test its 2019 highs.
“BTC currently tapping at the monthly resistance $10,760. To break the trend and close a higher-high, we want to see price break the last level at $11,983,” he said.
Rager continued and said: “This is the last major area of supply/demand in 2019 and can assume for price to retest yearly highs after a close above.”
2019’s BTC bull to be stronger than before
“Bitcoin 2019 *monthly lows* show how strong this bull will be. This isn’t a few months of 2017 gamble mania anymore. This is a store of value in the making. This is just the beginning.”
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.