A generally followed analyst and trader leans Bullish on Bitcoin (BTC) while the flagship Crypto Asset is about 21% under his all time.
The Analyst Pseudonym known as stretches Capital tells His 108,000 YouTube subscribers that Bitcoin’s banana zone, a period in which BTC experiences rapid and explosive growth, is still on track.
According to the analyst, the correction that Bitcoin has recently undergone is temporary.
‘This is a blip in that banana zone that will see us go higher in an extra upward continuation. “
According to Rekt Capital, the correction that Bitcoin has undergone is not uncommon.
‘What happens with the price action of Bitcoin when it breaks to new all time is yes, we see a parabolic Ascension for those new all time. But sometimes if we break to new all-time highlights, it can, for example, get a bit bumpy as we saw in 2017. And even in this period we also saw a bit of a bumpy ride just for new highlights of all time.
And in this cycle in the pre-Halling period we saw a corrective period of six to seven months after we actually gathered to new all-time highlights … The same here in 2013, bumpy in and around the old high region of all time. “
As for what will come for Bitcoin as soon as the parabolic upward trend is resumed, says the pseudonym analyst, says
“As soon as this corrective phase ends, we see a different expansion price price discovery number two. And then also that second price discovery correction number two.
And after that correction we will see that last upward trend in a new of all time in probably the peak of the Bull Market. “
Bitcoin acts at $ 85,773 at the time of writing.
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Generated image: midjourney