Bitcoin appears to be echoing its 2023 trajectory, showing a pattern of steady consolidation before a sudden, strong breakout. Historically, the longer this consolidation phase lasts, the more powerful the resulting surge tends to be. In 2023, we saw Bitcoin break out, settle into an uptrend, and then push even higher with another robust rally.
This setup suggests that a similar move could be in the works—if consolidation persists, the next breakout could be another substantial leap.
Looking ahead to 2024, we could see a similar market trajectory. Rate cuts combined with speculation around #Trump47thPresident have sparked a wave of bullish optimism, driving strong upward momentum. For now, the pieces seem to be falling into place for continued growth.
Let’s explore the link between Bitcoin Dominance (BTC.D) and Bitcoin’s explosive price movements. Historically, we’ve seen that when BTC dominance reaches the Fibonacci golden ratio level and then begins to dip, the entire crypto market often follows with a parabolic rally. This recurring pattern hints that a decline in BTC dominance from these critical levels could be a strong signal of a broader market surge on the horizon.
We may still be on the brink of Bitcoin’s parabolic pump phase—something we’ve seen play out before in the 2017 and 2021 bull runs. Bitcoin dominance (BTC.D) recently hit that golden Fibonacci ratio, hinting that this could be the peak of BTC dominance for the current cycle.
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