Bitcoin (BTCUSD) has seen a significant mid-Cycle growth in the past 2 months, approaching the pivotal 50k level. Technically a break above the 48.5k Resistance, constitutes the beginning of the Parabolic Phase of the Bull Cycle.
There isn't a better way to illustrate this transition than the use of the Pitchfan tool. Rarely used on BTC analysis and even more so on the long-term Cyclical patterns, it displays as you can see a very accurate illustration of the Cycles and specifically the stage we are currently at.
Every Resistance break-out usually takes place around the Halving event, which is the fundamental that typically signals the start of the rally to a new All Time High (ATH). The market is only 4 months away from this event and based on this every pull-back to the 1D MA50 is a buy opportunity to Dollar Cost Average (DCA).
So what do you think? Do you expect a Bullish Break-out into the new Parabolic Rally soon? Feel free to let us know in the comments section below!
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Love it, You have always been the voice from the crypto wilderness. Clear and concise picture from 40k feet, and what grounded optimism. Thank you
HNY TS. May we all be really prosperous in '24.
Ahmedramzy81
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Thanks for your big effort
arvine11
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today butty hit 420K in binance, see ya at 1K 😂
ReallyMe
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I honestly believe it will be a true Pitchfan Cycle, with the result that the last corrective ray will end where it logically belongs: Bitcoin will correct to 0. Pitchfan is by definition a series of rays that propagate from the starting point of a trend. These rays slope with the coefficients formed by a Fibonacci number sequence. In case of Bitcoin, the last one will cross the X Axis at 0.
AlirezaJoodi
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Is it possible to repeat? Because all people know it and are waiting for the bull market for the next year.
JalilRafieefard
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I don't see the 48.5K upside resistance being broken. In my opinion, the $45,000 range is the price ceiling for Bitcoin in the medium term. I would like to know what you think about my analysis.
ReallyMe
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Nothing is as easy as it looks. If everything seems to be going well, you have obviously overlooked something. Anything that can go wrong will go wrong. If anything simply cannot go wrong, it will anyway. ;-)