Bitcoin Price Parabola
Bitcoin price is picking up the pace and has covered almost $20 in some exchange charts. Fibonacci ratio targeting shows there is at least another $20 of upside in the tank. Bitcoin price is accelerating to the upside in a manner that frequently results in a price spike. According to two evident Fibonacci extension projections the wave top should form around the December and January highs, although the spike may extend much higher. Tomorrow’s analysis will consider the 1-day chart and the longer-term outlook.
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Bitcoin blasting above $50,000 per coin made it clear that the parabola would continue, marking the third major parabolic phase in the cryptocurrency’s short lifecycle. Commodities trader Peter Brandt has seen many price charts throughout his storied career. This sort of behavior in an asset is rare, according to Brandt. But three times? That’s “historic,” he says. And according to a chart he’s shared, the parabola has a lot more to go before it is […]
Bitcoin has fallen below $35,000, and while given the asset’s recent highs sounds like a sizable correction, the price per BTC is still nearly 1000% higher than where it was less than one year ago. After such extreme moves to the upside, often come crashes that eliminate much of the progress made, until the parabola starts […]
Bitcoin price has been hanging around the mid-to-high $50,000 range for weeks now, with neither side – bears or bull – making any headway. The sideways action has resulted in a break in the recent parabola, but the typical downside reaction hasn’t arrived. When comparing past bull market cycles and their pausing points using a […]
Bitcoin price has now had one of its largest pullbacks dollar for dollar in history, putting the entire parabolic uptrend in jeopardy, according to one crypto analyst who has warned the top could be near. The analyst, who has been accurate in the past, claims that it is now “crunch time” for the parabola to […]
Bitcoin price dropped below the parabola on the 12-hour timeframe but traders aren't calling for a big correction yet. Over the weekend numerous traders pointed out that Bitcoin (BTC) price broke its parabolic uptrend which had dated back to September. Technical analysts are bracing for a pullback as the dominant cryptocurrency eyes consolidation.Bitcoin could still see a strong recovery after the weekly close if there is a continuation of the rally. But it would need to quickly re-enter the parabola or risk a potential downward correction.Traders pinpoint $15,500 as the key level to....