Bitcoin ‘parabolic bull run soon’ as BTC hits crucial resistance zone
Although Bitcoin (BTC) has started to slow down its gains from the past weeks that have seen it not just cross the critical $35,000 mark but almost reach $38,000, technical indicators suggest it might make a more significant move upward in the near future. Specifically, the “higher timeframe picture on Bitcoin shows that we’ve hit a crucial resistance zone,” according to the analysis carried out by the cryptocurrency trading expert Michaël van de Poppe shared in an X post published on November 17. Indeed, Bitcoin did briefly touch the pivotal resistance at the area around $38,000 (between $37,900 and $38,500), at the same time moving far away from the pivotal support between $31,114 and $31,790, as the cryptocurrency analyst’s chart suggests. Bitcoin price action analysis. Source: Michaël van de Poppe At the same time, pseudonymous crypto market analyst Trader Tardigrade has pointed out that Bitcoin would enter a “ parabolic bull run soon,” sharing a chart pattern Analysis dati...