A crypto analyst known as CryptoCon has revealed a remarkable Bitcoin trend indicator that has accurately pinpointed the peaks and troughs of previous market cycles. According to CryptoCon, this indicator based on Bitcoin’s Bollinger Bands is signaling that the current bull run could culminate in a blow-off top as early as July or as late as September this year.
The Bollinger Bands Trend Forecaster
CryptoCon’s indicator tracks the cyclical behavior of Bitcoin’s price by analyzing the relationship between the asset’s price and its Bollinger Bands – a technical analysis tool that measures volatility. The analyst has identified four distinct phases that make up a complete Bitcoin market cycle:
Bear Market Trough – A deep negative trend spike marking the end of the bear market
Bear Market Trough Recovery – A brief bullish push after the bear market bottom
Final Parabola Signal/First Cycle High – A local high followed by the start of the final bull run
Cycle Top – The widest negative trend spike, indicating the peak before the next bear market
According to CryptoCon, this four-phase cycle pattern has played out with remarkable precision throughout Bitcoin’s history, with only one exception during the black swan event of 2020. The analyst claims the current cycle entered Phase 3 in January 2023, historically a precursor to the final parabolic price surge before the market tops out.
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Mid-July to Mid-September Window
If the typical timeframes between Phase 3 and Phase 4 are repeated, CryptoCon’s analysis suggests Bitcoin’s bull cycle could reach its peak anywhere between mid-July and mid-September this year. This projected window aligns with numerous other analysts’ predictions of a 2023 or early 2024 top for the current crypto market cycle.
As the crypto community keeps a close watch on Bitcoin’s price action, CryptoCon’s cycle forecasting model has piqued significant interest, offering investors a potential road map for the remainder of this explosive bull run.
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The post Bitcoin Indicator that Accurately Calls BTC Cycle Tops Points to September as the End of Ongoing Bull Rally: Here’s the Outlook appeared first on CaptainAltcoin.