Bitcoin (BTC) is garnering attention from top crypto analysts who are expressing bullish sentiments and predicting a potential parabolic surge for the cryptocurrency.
Renowned crypto strategist Michaël van de Poppe, followed by over 656,700 Twitter users, is observing positive signs for Bitcoin on the weekly chart. Despite a retreat from the significant psychological resistance at $30,000, Bitcoin continues to trade above two critical technical indicators on the weekly timeframe. Van de Poppe believes that the digital asset’s upward momentum will persist, leading it towards the price range of $38,000 to $42,000.
Another respected crypto analyst, Kaleo, who has a Twitter following of 587,400, shares the bullish sentiment. Kaleo suggests that Bitcoin’s recent reclaiming of support around $27,000 sets the stage for a potential rally to fresh yearly highs. The analyst sees this as a promising risk/reward long setup, with a target of $40,000, which still holds a magnetic appeal.
Adding to the positive sentiment is pseudonymous trader Bluntz, known for accurately predicting the 2018 Bitcoin bottom. Bluntz believes that Bitcoin’s corrective move from $30,000 has likely concluded and anticipates a resumption of the cryptocurrency’s upward trend. Noting the emergence of favorable follow-through candles on the daily chart, Bluntz suggests that new all-time highs may be within reach if the recent three-wave ABC correction is indeed complete. The sentiment in the market has shifted, with many now expecting further upside instead of anticipating more downside.
With multiple prominent analysts expressing optimism for Bitcoin’s future trajectory, market participants and observers are closely monitoring the cryptocurrency’s price movements. The possibility of a parabolic surge in Bitcoin remains an exciting prospect as the crypto market continues to evolve and captivate the attention of investors worldwide.
Also read :Bitcoin Price Prediction 2023 Points to All-Time High Level
