Analyst: Bitcoin’s Bullish Monthly Close May Signal That Parabolic Run is Imminent



April has proven to be a very positive month for the crypto markets, and Bitcoin's ability to decisively increase the region of $ 5,000 without incurring any significant selling pressure has made the overall market sentiment a bit more optimistic, since many badysts expect BTC to see more progress in the near future.

A leading badyst is now pointing to similarities between the monthly close of Bitcoin in April and the one seen in October 2015, followed by a mbadive bullfight.

Bitcoin is approaching $ 5,400 because recent bond fears fade

At the time of writing, Bitcoin is selling just under 1% at its current price of $ 5,375. Over a one-week period, Bitcoin recovered from its $ 5,100 lows that were established after news of the fiasco surrounding New York Attorney General's accusations that Tether and Bitfinex were swindling investors.

In previous years, news of this type was affected by significant declines, but Bitcoin only lost 10% after the news became generalized, and since then it has recovered much of its losses as it continues to rise towards its recent highs of more than $ 5,600.

In addition, in addition to appearing to have a growing strength from a fundamental perspective, Bitcoin also published a monthly green candle that many badysts see as optimistic.

DonAlt, a popular cryptocurrency badyst on Twitter, talked about the monthly close of BTC in a recent tweet, explaining that its biggest bias in terms is currently bullish.

"Monthly BTC: this is the first time in ages that BTC has broken the resistance and closed above it. Finally, we have a support below us that could really be maintained, which makes my big time bias bullish. I'm left with swing lengths until the support fails. The purchases in green would be juicy, "he said referring to a monthly candle table from BTC.

$ BTC monthly:

This is the first time in ages that BTC has broken the resistance and has closed above it.

Finally, we have support below us that could really be sustained, making my long term bias bullish.
I'm left with a long swing until the support fails.
Purchases in green would be juicy. pic.twitter.com/zczGMjmIhY

– DonAlt (@CryptoDonAlt) May 1, 2019

Analyst: Bull Run, similar to what was seen in 2015, would send BTC to more than $ 330k

Because this monthly close seems to be overwhelmingly bearish, the discussion about the next potential bullish race has abounded, and one badyst points out that there are striking similarities between the April 2019 close of Bitcoin and its October 2015 close, which was followed directly by a mbadive parabolic enclosure.

Galaxy, another popular cryptocurrency badyst on Twitter, discussed these similarities in a recent tweet, explaining that if the next bull reflects the results of 2015, which would require a mbadive influx of capital, the BTC price would reach $ 330k in the next years .

"The observation of structural similarities between the monthly sails of October 2015 and April 2019. October 2015 marked the beginning of the most significant bullfight in the history of BTC after a price increase of 6500% in 2 years. "Another similar upside puts BTC at more than $ 330K / currency by the end of 2021," he said.

Observing similarities in the structure between the monthly candles of October 2015 and April 2019.

October 2015 marked the beginning of the most important bullfight in the history of BTC after a price increase of 6500% in 2 years.

Another similar bullish race places BTC at more than $ 330K / currency, at the end of 2021. pic.twitter.com/KTCRLd8jRH

– Galaxy (@galaxyBTC) May 1, 2019

Although the next upside is unlikely to be identical to that observed in 2015, an influx of corporate and institutional capital, which in turn would lead to an influx of consumer investments, may be enough to drive another upward parabolic movement Many besieged investors are anticipating.

Featured image of Shutterstock.




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