The BITTREX:BURSTBTC price is at an interesting point in time. First, notice in the chart it is forming a double bottom with the all-time low in November 2015 - this could be viewed as bullish. Second, there is a potential correlation with the Bitcoin Halving Cycles. BURST has been around for two BTC halving's so far, one in 2016 and one in 2020. Notice in the chart that the BITTREX:BURSTBTCprice went parabolic approximately 6 months after the July 2016 BTC halving. We are now 6 months after the recent May 2020 BTC halving.
Combing the bullish double bottom chart pattern with this interesting BTC halving correlation, BURST could see a parabolic move in the near-term.
Combing the bullish double bottom chart pattern with this interesting BTC halving correlation, BURST could see a parabolic move in the near-term.