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🟢 Hello, fellow traders! I’m thrilled to present an update on Bitcoin's price forecast and the significant implications of the Parabolic Curve pattern we're observing right now!
Today, let’s explore the Parabolic Curve as Bitcoin approaches the conclusion of Base 4. Recognizing this pattern can aid in assessing future trading opportunities.
The Parabolic Curve typically emerges near the climax of major market surges, representing the culmination of several base formation breaks. This pattern is often associated with growth assets that exhibit innovative technology or visionary leadership — and Bitcoin exemplifies this.
Last year, at the critical juncture of Base 3, marked by the "X" on the chart at $25,700, Bitcoin experienced a rapid doubling in price. The hallmark of this pattern was its staircase-like structure, where the price established short-term bases before skyrocketing to new heights, repeating this process multiple times during its rise.
In my analysis utilizing Fibonacci tools and Elliott Waves, I’ve identified that :
- Base 4 lies within the range of $72,759 (resistance) and $55,257 (support), with the lowest spike at $49,000.
- The expected sell zone for this parabolic move is between $149,175 and $181,267.
This parabolic curve, akin to a rocket's trajectory, has shown remarkable persistence. However, as we have seen, exercising caution is essential as this pattern nears completion; swift upward momentum can end abruptly, leading to declines that exceed previous gains.
