Based

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-rises-from-consolidation-phase/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Rises from Consolidation Phase</a><br></p>
<p style="text-align: justify">Closely followed <a href="https://en.coin-turk.com/the-rise-of-tia-coin-an-analysis-of-recent-performance/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/cryptocurrency-investors-face-persistent-negativity/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> analyst Jason Pizzino suggests that Bitcoin (BTC) might exit its current consolidation phase within a few weeks. In a new video update for his 333,000 YouTube subscribers, Pizzino states that Bitcoin could display an upward trend on the monthly chart as September concludes.</p>
<h2 id="previous-cycles-and-upward-signals">Previous Cycles and Upward Signals</h2>
<p style="text-align: justify">Pizzino examines previous cycle lows and the months it took for Bitcoin to signal the beginning of parabolic rallies. Historically, these periods lasted 20, 21, and 19 months. He notes that if prices remain above August levels in September, this period will extend to 22 months. Should Bitcoin close September above the $66,000-$67,000 range, this could mark the start of significant movement.</p>
<h2 id="the-second-and-final-move">The Second and Final Move</h2>
<p style="text-align: justify">Based on historical data, the analyst asserts that a “final” move following the initial rise confirms an upward trend and signals the approach of a parabolic rally. In previous cycles, this occurred in the 22nd, 27th, and 28th months. Currently, Pizzino points out, we are in the 22nd month, with the 27th month aligning with February and the 28th month with March.</p>
<h2 id="bitcoin-s-current-price">Bitcoin’s Current Price</h2>
<p style="text-align: justify">During Pizzino’s assessment, Bitcoin was trading at $57,001, marking a 3% increase in the last 24 hours. He notes that these price movements align with historical trends and could be a potential breakout signal.</p>
<p style="text-align: justify">The analyst highlights that in previous cycles, Bitcoin surpassed certain resistance levels, initiating a new upward trend. He suggests that this movement might occur after a longer consolidation period this time, indicating a more significant price surge.</p>
<p style="text-align: justify">In conclusion, the closing of September and the subsequent months’ price actions could signal a potential parabolic rise for Bitcoin. However, Pizzino stresses the importance of caution, given the market’s complexity and volatility.</p>
<p>The post <a href="https://en.coin-turk.com/bitcoin-rises-from-consolidation-phase/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Rises from Consolidation Phase</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Bitcoin Rises from Consolidation Phase

Table of Contents

COINTURK NEWS

Other articles published on Sep 11, 2024

Polyhedra Announces Its Integration with BitGo to Protect Cross-chain Transactions

Polygon’s MATIC Sees Major Whale Activity, Puts Price Under Pressure

Bitcoin Mining Difficulty Set a New All-time High Record

Ethereum Name Service (ENS) Price Soars After PayPal, Venmo News, What’s Next?

Musk Moon Memecoin Will Surge 18,000% Ahead of Exchange Listings, While Shiba Inu and DOGE Lag

Metaplanet Inc. Teams Up with SBI Group for Bitcoin Trading and Custody in Japan

Join our free newsletter for daily crypto updates!