Analyst Who Correctly Predicted Bitcoin’s Surge And Crash Reveals Where Price Is Headed Next



Crypto
analyst
TechDev


has
provided
insights
into
the
Bitcoin
future
trajectory.
The
analyst
suggested
that
the
flagship
crypto
has
yet
to
reach
its
full
potential
in


this
market
cycle


and
that
more
price
surges
lie
ahead
for
the
crypto
token.  

Not
Yet
Time
For
A
Bitcoin
Blowoff
Top


TechDev
remarked
in
an
X
(formerly
Twitter)


post


that
the


Bitcoin
blowoff
tops


only
happen
after
the
four-week
Chaikin
money
flow
(CMF)
breaks
a
line
he
highlighted
on
the
accompanying
chart.
His
analysis
suggests
that
Bitcoin
is
still
bound
to
make
a

How To Get Free Crypto  


parabolic
move


to
the
upside
before
it
experiences
a
significant
decline. 


Related
Reading

Source:
X


Blowoff
tops
are
a
chart
pattern
that
shows
the
rapid
increase
in
an
asset’s
price
followed
by
a
sharp
drop
in
its
price.
TechDev’s
chart
showed
that
something
similar
happened
in
the


previous
bull
cycles
,
with
Bitcoin
enjoying
a


parabolic
uptrend


for
about
a
year
before
its
price
dropped
sharply. 


Similarly,
based
on
TechDev’s
chart,
Bitcoin
is
again
set
to
enjoy
a
parabolic
uptrend
from
now
to
sometime
in
2025
before
it
reaches
its
market
top
and
begins
to
decline
significantly.
In
another


X
post
,
the
analyst
suggested
that
the
time
has
almost
for
Bitcoin
to
enjoy
its
next
leg
up.
As


crypto
analyst
Rekt
Capital


claimed,
this
next
move
to
the
upside
will
take
Bitcoin
into
the
‘parabolic
uptrend’
phase
of
this
market
cycle. 


Interestingly,
this
breakout
for
Bitcoin
could
happen
sooner
than
expected,
with
TechDev
claiming
that
in
18
days,
Bitcoin
will
have
a
chance
at
a
breakout
that
it
has
only
seen
once
in
its
entire
history.
From
a
chart
he
shared,
TechDev
hinted
at
Bitcoin
rising
to

Coinbase Banner  


as
high
as
$190,000


in
this
bull
run. 

Source:
X


It
is
also
worth
mentioning
that


crypto
analyst
CrediBULL
Crypto


recently


predicted


that
a
Bitcoin
breakout
is
imminent.
He
said
Bitcoin
would
“absolutely
giga
send”
in
seven
to
ten
days
and
rise
to
as
high
as
$100,000
when
this
move
happens. 

Bitcoin’s
Breakout
May
Still
Take
A
While


Crypto
analyst
Rekt
Capital


recently
stated
that
Bitcoin’s
breakout
from
this


Re-Accumulation
range


would
occur
in
September
2024
if
history
repeats
itself.
The
crypto
analyst


claimed


that
Bitcoin’s
struggle
to
break
out
from
this
Re-Accumulation
range
is
“beneficial
for
the
overall
cycle.”


Related
Reading


He
noted
that
Bitcoin
has
never
broken
out
this
early
in
the
post-halving
period.
Rekt
Capital
remarked
that
a
Bitcoin
breakout
this
early
means
that
this
cycle
would
be
accelerated
and
that
the
bull
market
would
be
shorter
than
usual.
As
such,
he
believes
that
this


lengthy
consolidation


is
helping
Bitcoin’s
price
resynchronize
with
historical
halving
cycles
so
that
the
market
can
experience
a
“normal
and


usual
bull
run
.”


At
the
time
of
writing,
Bitcoin
is
trading
at
around
$66,900,
down
almost
1%
in
the
last
24
hours,
according
to

FreeBitcoin Banner  


data


from
CoinMarketCap.

BTC
price
drops
below
$67,000
|
Source:

BTCUSD
on
Tradingview.com

Featured
image
created
with
Dall.E,
chart
from
Tradingview.com

Go to Source
Author: Scott Matherson


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