- Bitcoin is entering a significant phase of a parabolic move, according to an analyst.
- Bitcoin surged past $70,000 after recovering from a dip to the $59,000 region.
- MACD and RSI show BTC could rally to $170,000 in the next few weeks.
Kyle du Plessis, a renowned cryptocurrency analyst, stated that Bitcoin is entering a significant phase of a parabolic move. In a recently uploaded video, Plessis identified the surging nature of BTC as a development that could trigger the next phase of the bull market across several cryptocurrencies.
BTC surged past $70,000 after recovering from a dip to the $59,000 region. According to Plessis, the recovery is significant for the flagship crypto and has introduced the fourth phase of its parabolic move. He claimed that there would be “mega short-squeezes” from this level, and the Bitcoin price would rally aggressively.
Meanwhile, Plessis noted that many altcoins are picking up momentum following Bitcoin’s upward movement. He thinks the upward movement would escalate even more, considering signals from technical indicators like MACD and RSI. According to him…
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