The Dutch Analyst Cryptographic Gert Van Lagen has shared a bold bitcoin prediction for the current bull cycle. This development is produced in the midst of continuous consolidation in the BTC market marked by any substantial price action on the last day.
Complete double range patterns: Time for launch?
In a recent publication about X, Van Lagen Postula that Bitcoin can be ready for the increase in mass prices. This analysis is based on two graphics patterns, namely the bullish megaphone pattern and the formation of a parabolic passage.
The bullish megaphone also known as the expansion wedge is formed when the price action creates higher and lower high ups and downs for a long time that is extended as a megaphone.
This graphic pattern generally indicates high volatility and is followed by a final rupture up after prolonged accumulation. According to Van Lagen, Bitcoin has now left this graphic pattern and has spent the last three months again testing its upper limit as a support zone, thus confirming its validity and indicating an incoming price rally.
A similar positive signal is seen in the parabolic formation similar to the passage that refers to the historical structure of the Bitcoin’s upward market where the price moves in the stages, forming a base (support) at each stage.
Base 1 forms after a price increase after a bass market accumulation. Base 2 is formed at a high level after a rupture of base 1, followed by base 3 that represents another key accumulation zone of a higher price range. Base 4 represents the final stage before Bitcoin enters a new phase of parabolic prices discovery.
Gert Van Lagen states that the main cryptocurrency has moved beyond base 4 coinciding with the end of the bullish megaphone pattern. The postula BTC analyst is collecting boost for a mass increase of $ 270,000 – $ 300,000 that can represent the maximum price of the current bull cycle.
BTC price perspective
At the time of publication, Bitcoin is valued at $ 97,501 after a 0.38% decrease in the last 24 hours. The cryptocurrency has increased by 1.14% in its weekly graph; However, it retains a monthly loss of 2.42%. According to Coincodex data, the Fear & WREED index is currently in 50 that indicates a feeling and uncertainty of the neutral market among investors.
For short -term objectives, Coincodex analysts predict a bitcoin price of $ 107,605 in the next five days and $ 130,902 in a month. On the other hand, its long -term price objectives include $ 158,696 in three months and $ 174,820 in six months.
Istock’s prominent image, TrainingView graphics
