Is BTC preparing for its final phase of parabolic run ? 116k next? 180k The TOP?
#BTC #Bitcoin #Crypto #Bull
{spot}(BTCUSDT)
Is $BTC preparing for its final phase of parabolic run before major correction/Bear market begins?
I think it is ... look at the 3D chart, it looks like 116k is loading for this current target. In This chart you see there is not a single red candle since the run began on 3D chart, all of the candles closed in green, even the smallest one, showing strength. Probably BTC is gonna surprise everyone and shoot right past 100k triggering massive fomo which should push the price further up.
Moreover, BTC has already had a correction of 32%. If you look at previous correction on 3D chart max fall was around 30%. Am not saying there won't be correction at all but I think there won't be one like there has already had. Probably a small correction then this run will continue until its final target which I think will be between 157 to 187k. I think reaction of altcoins also indicate we are close to the final phase and Altcoin marketcap chart has also broken out of the bullish descending channel which further cement my analysis on this? ๐ค
On the other hand, Stochastic RSI on 1M chart is closing to oversold territory, a small Stochastic cross would send BTC higher if it doesn't plan to stay down there forever which would then mean beginning of bear market.
In previous bull run 1M Stochastic below 50 region was a confirmation of the beginning of bear market until it planed to make sudden bullish cross to send BTC another 100% run so it could create double top and fall back. And This time instead of double top an 100+% run will send BTC to 150/170k. Don't underestimate the power of a Stochastic RSI cross on 1M chart. it is so powerful that it can easily send it 100% even when the cross happen below 50 region of Stochastic RSI. Even 100% run will set the BTC price around 160k region. after that, bear market should begin.
Note: Don't take this analysis as financial advice, make your own analysis before you make any investment decisions. I only intend to share my thoughts based what I see on the chart. And if you have different take on this , feel free to share it on the comment section.
