roar of the bulls – Markets are increasingly feeling the start of the next bullish rally for Bitcoin (BTC), although the discourse of certain analysts remains cautious. The bulls would prepare for their last big run before giving up their hand to the bears for a relatively long period of time.
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A bullish advance that will be confirmed by the $ 51,000 for bitcoin
Bitcoin rises to $ 49,575 on Bitfinex today, December 22, 2021. If it fails to hit $ 50,000 at the moment, bitcoin remains above $ 48,000. Bitcoin is trading at $ 48,967 at the time of writing and is currently posting a daily mini-profit of 0.67%.
Bullish pulse yesterday, December 21, 2021, revive the hopes of seeing $ 50,000 and more in the next few days. However, trader Michael van de Poppe remains cautious, noting in his tweet yesterday that “we have yet to break enough levels to say we are bullish.” He waits an advance of $ 50,500 – $ 51,000 as confirmation.
Michael van de Poppe shared in his tweet today a graph from June to July 2021 whose price fluctuations show similarities with those of recent weeks. The chart shows a series of declines in June – July 2021, patterns that have also been seen recently.
This series leads to a breakthrough, followed by an acceleration of the ascent. If this scenario repeats itself, end of December 2021 – beginning of January 2022 should therefore see a new bullfight.
TechDev persists and signs: last bull rally before a bear market
Analyst TechDev continues to share his analysis based on a multi-year time scale, comparing fluctuations in the price of bitcoin during each cycle. try to draw a model.
The latter always foresees one last bullish rally before bitcoin enters a long bearish phase. Some tweeters questioned TechDev about this type of forecast that does not take into account the macro environment.
TechDev pointed out, however, sharing the graph above in his tweet today, that bitcoin follows a pattern: with an imminent increase expected – given the similarities between the fluctuations in the price of bitcoin during the previous cycle and this cycle, and ” all this with different market capitalizations, macroeconomic environments and supply dynamics. »
What does 2022 have in store for bitcoin? The forecasts are optimistic, giving the markets the hope of $ 100,000 after a missed appointment in 2021.
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