“Bitcoin (BTC) is ready for a bullrun”: this is the opinion of Stockmoney Lizards in its tweet. According to his analysis, BTC is now on the verge of breaking out of the bearish phase. This advice is based mainly on the observation of the Rainbow oscillator which displays a rising wedge. But not that, according to the cycle that repeats itself in the course of Bitcoin (BTC), the bear market is coming to an end. Are the buyers ready to impose themselves?
Bitcoin (BTC): a new bullrun for the next 3 years?
A new bullish phase is about to start on Bitcoin. And it will last a few years. Indeed, we can see on the weekly chart below, that bitcoin (BTC) bullruns generally last almost 3 years. For example, after the 2014 bear market, Bitcoin hit a new high in 2017.
Similarly, the bear market between 2018 and 2019 was followed by an increase of 1800% for 3 years. Which drove bitcoin to its all-time high of $68,900.
This is why we can expect this cycle to repeat itself. Thus, it is very likely that this next bullrun will drive bitcoin (BTC) to a new high.
A rising wedge on the Rainbow Oscillator indicator?
Next to this, the analysis of Stockmoney Lizard also relies on the Rainbow Oscillator indicator. This technical indicator also shows that bitcoin (BTC) is ready for its next bullrun. Indeed, after each rising wedge that precedes the bear markets, this indicator drops to a very low level. The bullish phases then start after the lower levels of the Rainbow. Similarly, everything suggests that the rainbow oscillator has already reached its low for the current bearish phase. Therefore, an explosive rise is imminent for the king of cryptos.
Followed by more than 16k subscribers, Stockmoney Lizards has a particular approach in its analysis. According to his assumptions, the 25% jump since June signals the end of winter for cryptos. And the next bitcoin (BTC) bullrun will probably last until 2025.
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