Bitcoin follows the cycle that might push it quickly past the level of one million dollars.
A possible strong continuation move toward $650,000 fast if BTC breaks $189,000.
A drop below $50,000 would be a resetting of the trend before the next rally.
Currently, Bitcoin (BTC) is trading at $84,274.69, while monthly displaying the Livermore Accumulation Cylinder, which is a historical pattern indicative of explosive growth followed by major corrections. The price structure also coincides with the BTC Nation-State Adoption FOMO Cycle that defines ten stages from accumulation to extreme euphoria. While BTC moves steadily in an ascending channel, the market watches carefully when the current wave will end and be thrown into the ultimate parabolic phase. According to this cycle, Bitcoin could exceed the $1,000,000 mark before sinking into steep corrections toward lower levels.
https://twitter.com/SuperBitcoinBro/status/1898465166544777443
The chart implies a very long extension of a gradual stage of accumulation and a very well-constructed incline within parallel trendlines. Historically, Livermore’s speculative model has guided great many major asset bubbles, with each phase moving closer to an extreme top before eventual exhaustion. Resembles this, Bitcoin’s pattern, in which numbered stages mark steady gains followed by pullbacks. In short, following the projected pathway, Bitcoin would significantly move toward sharp altitudes, toward $650,000 and above, before peaking in this speculative cycle.
Especially for long-term movements, price zones could either build up further or result in widespread corrections in the market. The current price of $84,274.69 puts BTC in the accumulation phase, as with previous dips that usually trigger renewed buying pressure. The next area of significant resistance will be sitting at $189,000, where the confirmed breakout above could greatly accelerate the price action momentum toward $1 million.
Market Awaits Confirmation and Bitcoin Down Approaching This Critical Stage
While that volatility increases, at the same time changes in direction often accompany the judgment by traders about where they feel Bitcoin stands within this speculative cycle. Depending on the extent of increases in institution behavior and nation-state adoption, BTC may also be entering the later stages of the FOMO cycle, wherein parabolic moves become more frequent. Price-sustaining corrections at higher levels will create massive swings before any sustained peak is achieved. It remains to be seen in the coming months whether Bitcoin follows this entirely construed path into the future, or whether it deviates early from it, as time will tell if it truly falls in line with historical accumulation models. Read MoreNews, Bitcoin News, Blockchain News, DeFi News, NewsNow, Price Analysis, BTC, Crypto market, cryptocurrency, Market
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