Bitcoin ‘Parabolic Phase Just Begun’: Will BTC Hit $100,000 This Week?

Over the last two weeks, Bitcoin has risen 32% to $89,000–$90,000. BTC soared 11% last Monday, setting the stage for its two-day rally to $93,400.

Since then, Bitcoin has traded between $89,000 and $92,000, briefly dropping to $87,000 on Friday. Bitcoin had its biggest weekly closing ever over the weekend.

According to crypto expert Rekt Capital, BTC is just entering its “parabolic phase,” as week three of the cycle's “first price discovery uptrend” began today. The expert said BTC has normally had 300 days of parabolic surge, with the first substantial downturn occurring over a month after price discovery.

Six weeks passed before the flagship crypto's first substantial decline in 2013, according to the report. BTC rose for eight weeks in 2017 before falling. In 2020-2021, it rose for four weeks before retracing significantly.

The analyst believes “history suggests there’s more upside to come and that the first Price Discovery Correction is still weeks away.”


Bitcoin seems to be repeating 2020, according to Ali Martinez. After passing $19,700, BTC surged 26% and consolidated for a week in 2020. BTC rose 66% to $40,000 in two weeks after consolidating.

Martinez said Bitcoin had increased 28% from its March ATH and is stabilizing for about a week. This means that the cryptocurrency's price might rise above $100,000 this week.

Crypto Yapper, another market analyst, predicted a “massive move” for Bitcoin. The expert noted the flagship crypto's consolidation around $89,000–$90,000.

This horizontal level was a crucial resistance zone last week but has been support for five days. Bitcoin retested $91,000 earlier today, and the expert said it might continue its positive trend and reach $95,000.

A one-week symmetrical triangle pattern was broken by BTC to start the week. Crypto Yapper calls this a “typical continuation pattern” for Bitcoin

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