Bitcoin has 100 days to go ‘parabolic’ or end its bull market: Analysis
Bitcoin is facing a pivotal moment according to recent analyses, with the Bollinger Bands indicator suggesting a breakout is imminent within the next 100 days. This period of tightness in the Bands typically sees resolution, either resulting in a parabolic price increase or a downturn in its bull market. Historical trends indicate such patterns resolve around three months. Popular trader Tony ‘The Bull’ Severino emphasized that for a breakout to be legitimate, Bitcoin needs to surpass the upper Band robustly. He cautioned against potential false breakouts, referencing Bitcoin's previous all-time high above $126,000, hinting at the possibility of another momentary drop before a significant upward movement. Additionally, other analysts underline the likelihood of a continued bull run, despite cycles lengthening. Rekt Capital indicated recent bullish expectations, hoping for a substantial upward price movement by October, as final stages of bull markets typically showcase intensive surges.
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