After reaching the $17,000 level, pushing up most of the cryptocurrency базар with it, a узор has emerged with Bitcoin (BTC) moving in a similar way to that from over two years ago, which eventually led to a кенен rally for BTC.
Атап айтканда, терминалдарда has been mimicking indicators from 2020, including a down-slope neckline, lows price action, relative strength index (RSI) up-slope neckline, and RSI жылма орто мааниси (MA) uptrend, as байкалып by prominent крипто соода аналитик Trader Tardigrade November 30 боюнча.
As the analyst noted, this price action in early 2020 resulted in a breakout for the flagship decentralized finance (толугу менен) token, peaking at around $10,500, which means that a similar result could be expected in December 2022, potentially closing the year in the area at around $19,700.
Ошол эле учурда, Trader Targidrade’s analysis was ырастады by a fellow crypto analyst known as маглар, who posted on December 1 another side-by-side chart to illustrate the similarities between Bitcoin’s price activities in 2020 and 2022.
More indicators of upcoming rally
At the same time, crypto trading expert Michaël van de Poppe баса that “as long as Bitcoin remains above $16.6-16.8K, the thesis still stands on this long,” posting his analysis of the Bitcoin price action on December 1.
Furthermore, pseudonymous crypto analyst Мурут аныкталган that “every time BTC has dropped in the last 8 months, there has always been a relief rally back to the 0.5 FIB line,” setting the 0.5 Fib target at around $18,500.
Анын үстүнө, Trader Tardigrade дагы бар жарыяланган an analysis of historical ‘Bitcoin halving rallies’ that typically started “at 14-18 months before the halving month,” the next of which is estimated to be March 2024.
Bitcoin баа анализи
At press time, Bitcoin has dropped below the previously reached $17,000 line, and was changing hands at $16,987, recording a modest increase of 0.90% on the day and 2.70% across the previous seven days, still trying to recover from the loss of 16.88% on its monthly chart.
As things stand, Bitcoin’s market capitalization presently amounts to $326.21 billion, retaining its position as the largest cryptocurrency Бул көрсөткүч боюнча CoinMarketCap маалыматтар Финболд тарабынан 1-декабрда алынган.
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Source: https://finbold.com/bitcoin-indicators-point-to-an-imminent-rally-mirroring-2020-price-action/