Bitcoin

Rekt

Time

<p><a href="https://bitcoinist.com/bitcoin-price-set-to-double/" rel="nofollow">Crypto analyst TechDev</a> has provided insights into the Bitcoin future trajectory. The analyst suggested that the flagship crypto has yet to reach its full potential in <a href="https://bitcoinist.com/bitcoin-bull-market-glassnode/" rel="nofollow">this market cycle</a> and that more price surges lie ahead for the crypto token.&nbsp;&nbsp;</p> 
<h2 id="not-yet-time-for-a-bitcoin-blowoff-top">Not Yet Time For A Bitcoin Blowoff Top</h2> 
<p>TechDev remarked in an X (formerly Twitter) <a href="https://x.com/TechDev_52/status/1801018024587047332" rel="nofollow">post</a> that the <a href="https://bitcoinist.com/when-bitcoin-top-historical-pattern-provide-hints/" rel="nofollow">Bitcoin blowoff tops</a> only happen after the four-week Chaikin money flow (CMF) breaks a line he highlighted on the accompanying chart. His analysis suggests that Bitcoin is still bound to make a <a href="https://bitcoinist.com/larger-parabolic-move-in-bitcoin-imminent-after-breaking-bearish-ceiling/" rel="nofollow">parabolic move</a> to the upside before it experiences a significant decline.&nbsp;</p> 
<img loading="lazy" decoding="async" class="size-medium wp-image-624715" src="https://www.newsbtc.com/wp-content/uploads/2024/06/Bitcoin-1-6.png?w=460&amp;resize=460%2C268" alt="Bitcoin 1" width="460" height="268" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/Bitcoin-1-6.png?w=512 512w, https://www.newsbtc.com/wp-content/uploads/2024/06/Bitcoin-1-6.png?w=460&amp;resize=460%2C268 460w" sizes="(max-width: 460px) 100vw, 460px" data-recalc-dims="1"> 
<p>Blowoff tops are a chart pattern that shows the rapid increase in an asset’s price followed by a sharp drop in its price. TechDev’s chart showed that something similar happened in the <a href="https://bitcoinist.com/bitcoin-shatters-profit-taking-streak-2021-bull-run/" rel="nofollow">previous bull cycles</a>, with Bitcoin enjoying a <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-giants-pattern-mirrors-2021-bull-run/">parabolic uptrend</a> for about a year before its price dropped sharply.&nbsp;</p> 
<p>Similarly, based on TechDev’s chart, Bitcoin is again set to enjoy a parabolic uptrend from now to sometime in 2025 before it reaches its market top and begins to decline significantly. In another <a href="https://x.com/TechDev_52/status/1800627947642233219" rel="nofollow">X post</a>, the analyst suggested that the time has almost for Bitcoin to enjoy its next leg up. As <a href="https://bitcoinist.com/bitcoin-danger-zone-in-2-days-crypto-expert-explains-what-this-means/" rel="nofollow">crypto analyst Rekt Capital</a> claimed, this next move to the upside will take Bitcoin into the ‘parabolic uptrend’ phase of this market cycle.&nbsp;</p> 
<p>Interestingly, this breakout for Bitcoin could happen sooner than expected, with TechDev claiming that in 18 days, Bitcoin will have a chance at a breakout that it has only seen once in its entire history. From a chart he shared, TechDev hinted at Bitcoin rising to <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-100000-cardano-dead/#:~:text=Why%20Cardano%20Is%20Dead,non%2Dexistent%E2%80%9D%20on%20it.">as high as $190,000</a> in this bull run.&nbsp;</p> 
<img loading="lazy" decoding="async" class="size-medium wp-image-624716" src="https://www.newsbtc.com/wp-content/uploads/2024/06/Bitcoin-2-5.png?w=460&amp;resize=460%2C249" alt="Bitcoin 2" width="460" height="249" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/Bitcoin-2-5.png?w=512 512w, https://www.newsbtc.com/wp-content/uploads/2024/06/Bitcoin-2-5.png?w=460&amp;resize=460%2C249 460w" sizes="(max-width: 460px) 100vw, 460px" data-recalc-dims="1"> 
<p>It is also worth mentioning that <a href="https://bitcoinist.com/crypto-analyst-bullish-on-ethereum-and-xrp/" rel="nofollow">crypto analyst CrediBULL Crypto</a> recently <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-price-6-digit-ath/">predicted</a> that a Bitcoin breakout is imminent. He said Bitcoin would “absolutely giga send” in seven to ten days and rise to as high as $100,000 when this move happens.&nbsp;</p> 
<h2 id="bitcoin-s-breakout-may-still-take-a-while">Bitcoin’s Breakout May Still Take A While</h2> 
<p><a href="https://bitcoinist.com/bitcoin-price-left-danger-zone/" rel="nofollow">Crypto analyst Rekt Capital</a> recently stated that Bitcoin’s breakout from this <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-troubles-far-from-over/">Re-Accumulation range</a> would occur in September 2024 if history repeats itself. The crypto analyst <a href="https://x.com/rektcapital/status/1801298871437373828" rel="nofollow">claimed</a> that Bitcoin’s struggle to break out from this Re-Accumulation range is “beneficial for the overall cycle.”</p> 
<p>He noted that Bitcoin has never broken out this early in the post-halving period. Rekt Capital remarked that a Bitcoin breakout this early means that this cycle would be accelerated and that the bull market would be shorter than usual. As such, he believes that this <a href="http://v" rel="nofollow">lengthy consolidation</a> is helping Bitcoin’s price resynchronize with historical halving cycles so that the market can experience a “normal and <a href="https://bitcoinist.com/bitcoin-bull-market-glassnode/" rel="nofollow">usual bull run</a>.”</p> 
<p>At the time of writing, Bitcoin is trading at around $66,900, down almost 1% in the last 24 hours, according to <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="nofollow">data</a> from CoinMarketCap.</p> 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/Hi5ETaBs/" alt="Bitcoin price chart from Tradingview.com" width="3286" height="1576">

Analyst Who Correctly Predicted Bitcoin’s Surge And Crash Reveals Where Price Is Headed Next

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