Cryptocurrency

The longer the Range the more the next Bull-Run

The Range of Bitcoin in the last three months is, letting analysts come to the conclusion that a strong bull phase is imminent.

The longer the Range the stronger the Bull Run

According to Bitcoin-Trader “Crypto Michaël”, means the longer the current sideways accumulation for BTC continues, the stronger the next Bull-Run.

Since then, the Bitcoin exchange rate reached at the end of June 2019 briefly 13.800 $, has moved BTC almost exclusively between the range of $ 10,000 to more than 10,300$.
Any setback in the direction of over $ 9,000 has experienced a rapid reversal. Last week, the experienced Trader Peter Brandt stressed that the Bitcoin price is at least in the short term, clearly under pressure.
At the macro level, as Brandt, the Bitcoin price stands, however, this downward pressure and consolidation continues, until probably the fourth parabolic Phase.

The important $11.700-level

Already in June, the cryptanalysts Josh Rager is 11,700 US dollars as “critical resistance” for BTC identified. Last week, he clarified his statement and stressed that the Bitcoin price if it rises above 11.700$, will be the trigger for a more significant rally. Considering the logarithmic Bitcoin price chart, Bitcoin seems to be in a more parabolic Phase occurred.

In General, the number of cycles with increasing maturity of the markets any longer. The previous course form for BTC was 1 year (1. Cycle), 2 Years (2. Cycle) and 3 years (3. Cycle).
Assuming that the above pattern remains the same, should be the peak of the next parabolic Phase, between 2021 and 2022.
The Stock-to-Flow model of the crypto analyst, PlanB predicts a Bitcoin price of $ 100,000 until may 2020, when the next halving.
Text evidence: bitcoinis, OSATO AVAN-NOMAYO

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.