Crypto analyst Cupra has revealed that Bitcoin has made a historic aggressive push recovery settingThis indicates that a rally to the upside may be on the horizon. The analyst predicted that BTC could rise to a new all-time high (ATH) of $150,000 as the next bull phase approaches.
Bitcoin is printing one of the most aggressive setups in years
In one X messageCupra stated that Bitcoin just printed one of the most aggressive recoveries the market has seen in years. He noted that such a scheme played out in 2019 after months of “pain,” which subsequently led to a 282% explosive move for BTC. Now the same structure is playing out, with the analyst noticing a similar reset, but with even more liquidity.
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Cupra noted that this is not a coincidence, because this is how the bull run begins, destroying sentiment as liquidity increases and smart money begins to position itself. He added that the market is about to shock everyone and that a Bitcoin rally to $150,000 is not a ‘meme’ but the next phase. His accompanying chart showed that BTC could also rise to a cycle peak of $420,000.
In another X messagethe analyst doubled down on his claim that Bitcoin could soon see a parabolic reversal to the upside. He noted that 35 bars go up and 12 bars go down, which is the “perfect cycle structure.” Cupra added that every time this happens, there is one enormous expansion follows.
Cupra also revealed that Bitcoin has just completed the 12 bar reset and this is the launch zone. In line with this, he stated that the next stage will be violent and will not be a ‘normal pump’. The analyst added that the parabolic phase is now starting.
BTC is still at risk of a decline
Crypto analyst Colin predicted it that Bitcoin is still at risk of falling despite claims that the leading crypto has formed a bottom. He emphasized A carry flag on its chart, suggesting that BTC could rise above $77,000 in the short term following the two-week ceasefire agreement between the US and Iran. However, it is likely that the leading cryptocurrency will continue its downward momentum following this rebound.
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Crypto analyst Aralez warned market participants must now be careful with Bitcoin transactions. He noted that the price is in a key zone after clearing a large liquidity shelf and that the structure still looks bullish locally. However, there are two important things to watch now, namely whether the market will show weakness soon and whether the price will remain within a certain range.
At the time of writing, the Bitcoin price is trading around $71,000, down in the past 24 hours. facts from CoinMarketCap.
Featured image from Pixabay, chart from Tradingview.com