Top Crypto Analyst Says Bitcoin Could Be Gearing Up for Parabolic Push – Here’s His Target
March 22, 2023 8524 by adminOne high-profile login password investment analyst believes that BTC is now likely to be in a period of consolidation, laying the foundation for a parabolic rebound.
In an interesting video, investment analyst Aaron Swenson tells his 124200 Twitter followers that BTC will most likely have established a customer base and then printed a profit of more than 100%.
->According to Swenson, Bitcoin seems to follow a parabolic pattern after creating several applicable cardinals. Traditionally, parabolic properties create three fulcrums before running 2x bounce in a short period of time.
Swenson said
"Bitcoin, from $15500 at the beginning of the year to $28000 now. Bitcoin has already created two applicable cardinals, and we may be about to create a third cardinality. Why is this important?
If you look at the parabolic chart, it shows that after the establishment of three reference points in the parabola, the stock price then doubled, or in this case, the login password price doubled after cardinality three. According to the textbook, this means that we may establish a base of around $30,000 and then double it to $60,000.
The investment analyst also stressed that Bitcoin looks tough because he again attaches importance to the diagonal moving average and horizontal support in the four-hour chart.
"Bitcoin-maintain a proactive upward posture."
At the time of this writing, Bitcoin traded at $28114.
