If we are to believe Titan of Crypto, Bitcoin may be on the verge of an upward price explosion. The analyst in question shares an analysis of the Ichimoku Cloud on the daily chart in the chart below. According to him, within that cloud there is a Tenkan that is turning into a Kijun, which is normally bullish.
Bullish Signals for Bitcoin
In addition to the bullish development for the Ichimoku Cloud, Titan of Crypto also sees a bullish crossover for the MACD on the daily chart. The MACD is a momentum indicator from technical analysis.
By the way, Titan of Crypto isn’t the only one currently bullish on the digital currency. “$BTC has a very high chance of pumping soon,” says Alan Tardigrade.
He also sees bullish signals on the daily chart of Bitcoin, which is in principle a good sign for the digital currency. In the end, we will have to wait and see of course.
Remember that technical analysis is not an exact science. There are many other things that can influence the Bitcoin price.
Bitcoin Parabolic Phase Still Possible?
Popular analyst Rekt Capital goes one step further and thinks that Bitcoin can still enter a parabolic phase. We speak of a parabolic phase when the Bitcoin price shoots up almost straight during a bull market.
Bitcoin is now 125 days away from the halving, and typically breaks out after 160 days, according to Rekt Capital. “If history repeats itself, Bitcoin could be months away from a breakout. That would mean late September,” the analyst wrote.
There is no breakout yet. The Bitcoin price is currently trading at $59,500 and has thus fallen back below $60,000. In that respect, the bullish momentum is not yet fully back.
Do you still believe in a second part of the bull market or do you think that with the price of $73,800 in March we have already seen the top for Bitcoin?
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Source: https://newsbit.nl/bitcoin-geeft-hints-voor-nieuwe-bullrun/
