A widely followed analyst believes that Bitcoin (BTC) is gearing up for a parabolic surge despite its recent price doldrums.
Pseudonymous crypto strategist TechDev tells his 447,600 followers on the social media platform X that conditions on Bitcoin’s two-month chart suggest that BTC is almost ready to witness a price explosion.
The analyst predicts that BTC will rally by over 120%, similar to what happened in late 2020 when Bitcoin surged from around $13,000 to over $29,000 in just two months.
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“Bitcoin’s two-month candle is right on the candle body high, soon after max compression.
As RSI (relative strength index) is about to break 70.
These have been the conditions which led to the last three parabolic accelerations.
I suspect this next two-month candle will
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