Euphoria in the market for the Bitcoin up again to 28K
Hello dear readers, let this post serve to socialize information about the behavior that the Bitcoin price action has been showing, specifically the euphoria that has been unleashed after the BTC recovered to the $28,000 area.
As the price action has developed in the last 24 hours, Bitcoin has risen more than 5% and surpasses what they have placed back above the $28,000 level, and in the case of Ethereum is brushing the $1,800 barrier.
Experts predict that both Bitcoin and the rest of the cryptocurrencies are entering a bullish cycle, although it is still premature to think that the so-called "crypto winter" has passed.
According to Charles Edwards (CEO and founder of the investment firm Capriole), the behavior of Bitcoin's price during this year shows a "bump & run" reversal and he considered that it could shoot up to $100,000.
It is important to mention, that the bottom of a bump-and-run reversal is a bullish reversal pattern that begins with a series of downward peaks, hence, according to Charles Edwards excessive speculation drives prices down to extreme lows, the price behavior then reverses direction upwards and marks the end of the downtrend.
SOURCES CONSULTED
Ambito Bitcoin and Ethereum soar: cryptocurrencies are euphoric. Link
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating image: Ambito
I think the bull run is already here (or at least, fast approaching). We might even witness an ATH in many cryptocurrencies this year, who knows?
Nice piece buddy.
Hi @samminator
I agree with you, and we can even see the strength that the Bitcoin price action has been developing.
Best regards, be well.