Bitcoin Just Flashed Pattern That Historically Leads to Parabolic Price Rallies, According to Top Crypto Analyst

Bitcoin Just Flashed Pattern That Historically Leads to Parabolic Price Rallies, According to Top Crypto Analyst


One crypto analyst thinks that Bitcoin (BTC) is mirroring past rallies and could be on the cusp of achieving massive gains.

The pseudonymous crypto market analyst TechDev tells his 183,600 Twitter followers that BTC’s current technicals resemble its late 2020 structure when the king crypto consolidated below $20,000 before blasting off to $64,000.

“Last time this cycle, BTC tried to break ATH (all-time high) on the weekly…

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It consolidated beneath for 3-4 weeks with Stoch RSI [stochastic relative strength index] maxed out before a strong break to the upside.

While comforting, the bearish sentiment is confusing.”

Source: TechDev/Twitter

RSIs measure the speed and rate of change in price movements, while the stochastic RSI assesses such data over a set period.

The analyst next compares the

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