Despite the recent weakness in the price of BitcoinThe major crypto asset is still witnessing a wave of bullish predictions from several analysts as investors and traders expect a big rally in the short term, indicating strong sentiment in BTC’s strength among crypto enthusiasts.
Is Bitcoin Ready for a Historic Bull Run?
In a cheap post on X (formerly Twitter), Ash Crypto, market expert and trader he revealed the potential for Bitcoin to generate the largest bull run in this ongoing cycle, fueled by improving market sentiment and previous bull cycle trends. Ash Crypto is convinced that these factors can cause the digital asset to continue to rise, perhaps in a new for all time in the near future.
According to market experts, Bitcoin is currently simulating a bull run that occurred in the 2020-2021 cycle. His claims may suggest that the bullish setup seen before BTC’s meteoric rise during this period is reflected in the current market structure and trending patterns.
Ash Crypto noted that since BTC shows the trend of 2020-2021, the digital asset has also formed a similar double crossover of the Moving Average Convergence Divergence (MACD), which the analyst mentioned in a period of 1 week.
During the 2020-2021 bull cycle, the first MACD crossover occurred near the MACD zero line and the Bitcoin price traded in an accumulation zone. Again, the second crossover occurred and the stock price began to rise rapidly, leading to a major bull run during the period.
At that time, in ongoing bull cyclewhen the first crossover happened last year, the price of BTC also moved to a certain area. In the next 2 to 4 weeks, Ash Crypto highlighted that a second MACD crossover is expected to occur.
After the development, the analyst expects another significant growth in the price of Bitcoin in the coming months, which he believes will be a “big bull run,” which shows his confidence in the optimistic direction of the current cycle.
3 Opposite Head and Shoulders Patterns Over the Last Decade
Another crypto expert and enthusiast you have predicted the next big bull run for BTC is Trader Tardigrade. A market expert made a bold prediction after citing an inverse head and shoulders pattern BTCChart in different situations over the last 10 years.
Specifically, the inverse head and shoulders formation suggests the end of a downtrend, which means that Bitcoin may be ready to break out of its current phase. Meanwhile, according to Tardigrade, Bitcoin has seen this pattern for the third time since 2013.
Tardigrade noted that Bitcoin is forming the right shoulder within the third head opposite the shoulders at the moment. So, if BTC breaks out of the pattern, the analyst predicted a big bull run, which is likely cycle height.
Featured image from Unsplash, chart from Tradingview.com