Top traders say Bitcoin log chart points to a 2017-style BTC bull run
As Bitcoin price rises to new heights, top traders say the monthly and logarithmic chart signal that BTC is entering a new bull trend. Peter Brandt, a well-regarded veteran trader, recently emphasized the high demand from institutions as a key catalyst for Bitcoin's strong performance. BTC/USD 1-month chart. Source: TradingViewThe strong high time frame technical structure of BTC, especially the weekly chart, and the strengthening fundamentals are buoying the market sentiment. In a tweet, Brandt posted the above chart and said:“Bitcoin—IF the current gains hold through end of Oct—is poised....
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Numerous on-chain indicators suggest Ethereum price is on the verge of another 2017-style bull run. Ether (ETH) price is currently ranging between $440 and $470, which is similar to the price action seen in December 2017. Back then, the scenario ended up being incredibly bullish, and the altcoin quickly rocketed toward $1,400. Fast forward to 2020, and some investors believe a similar outcome may occur as a few key on-chain and technical indicators are mirroring the levels seen in the previous bull run.On Dec. 10 Ether price was $450, and it took only 34 days for Ether to reach its....
Crypto analyst Chart Nerd has declared that XRP is set to mirror its 2017 cycle, when the price recorded a parabolic rally. He further revealed how high the altcoin could reach, with a double-digit price on the cards. XRP Could Mirror 2017 Cycle And Eyes Rally To $27 Chart Nerd stated that XRP is gearing up for a 2017-style run and is unlikely to decline as low as $0.50. Instead, the analyst believes that the altcoin will hold the line above $2, which is the January 2018 candle close highs, and then record a parabolic rally to its Fibonacci extension targets at $8, $13, $15, and $27.....
Bitcoin could see in excess of 10x growth in the mid term should historical trends repeat for a third time, says ARK Invest's Yassine Elmandjra. Bitcoin (BTC) could reach almost $400,000 this bull cycle simply by copying previous behavior, one popular analyst has said.In a tweet on Feb. 4, Yassine Elmandjra, cryptoasset analyst at asset manager ARK, revealed just how early on in its current bull run BTC/USD really is. BTC price to $400,000?Compared to 2013 and 2017, the 2020-21 cycle is barely off the start line, with a hypothetical chart suggesting that the top this time around could be....
Bitcoin’s all-time price highs in 2021 have crushed records set in 2017. But that’s not the only way in which this bull run is different. The post Bitcoin 2017 Vs. 2021: How This Bull Run Is Different appeared first on Bitcoin Magazine.
A classic technical pattern points to a 20% price rally in the Cardano market, with its profit target sitting above $3. Cardano (ADA) appears to be heading toward a new record high as its downside move takes the shape of a bull flag.In detail, the ADA/USD exchange rate plunged 16.91% to $2.47, but the pair’s decline came after a strong move higher, wherein it surged over 120% month-to-date to reach an all-time high of $2.97 on Monday. Therefore, the latest declines have given the impression that Cardano is undergoing a brief pause before it resumes its uptrend.Part of the upside analogy....