Three crypto analysts, who are widely followed in the cryptocurrency world, support a similar view that Bitcoin (BTC) is poised for a parabolic rally. These analysts include crypto strategist Michaël van de Poppe, an analyst using the pseudonym Bluntz, and Kaleo.
First, Michaël van de Poppe states that Bitcoin (BTC) is giving bullish signals on the weekly chart. reported. This could mean that the price of Bitcoin will go into an uptrend. Based on his technical analysis, Van de Poppe pointed out that despite being below a key resistance level, Bitcoin continues to trade above two key technical indicators on the weekly timeframe.
“Bitcoin is breaking up and testing $27,600. Good marks. On the weekly time frame: it maintains the 200-day moving average and the exponential moving average. I think we’re going to move towards $38,000-42,000 from here.”
The pseudonymous analyst Bluntz, who became famous in the industry by correctly predicting the 2018 Bitcoin bottom, believes that the correction movement of Bitcoin (BTC) from the $ 30,000 level is over. Bluntz predicts that after this correction, Bitcoin will enter an uptrend again and its price will continue to rise:
“After Friday’s reversal, we started getting some nice trailing candles for BTC on a daily basis. If this is a three-wave ABC drop, then potentially new highs are on the table. While many expect more negativity at the moment, sentiment seems to have reversed here.”
Besides, Kaleo has an optimistic view on Bitcoin. This analyst thinks that Bitcoin could go higher and make a parabolic rally. Kaleo said that once Bitcoin manages to reclaim support at around $27,000, it will begin to move towards new annual highs of $40,000.
“I am a fan of this break/recovery. See this as a pretty solid risk/reward long position setup for a potential return to higher highs. And yes, $40,000 is still a magnet.”
The similar views of these three crypto analysts indicate that Bitcoin (BTC) may perform positively in the near future. However, as cryptocurrency markets are highly volatile, they always involve uncertainties and risks. It is important for crypto investors to do their own research, use risk management strategies, and be careful.
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