According to analyst Gert van Lagen, the Bitcoin market is preparing for a significant change.
In a recently shared tweet, van Lagen highlighted the formation of a “perfect head and shoulders bottom” below the weekly simple moving average (SMA) over the past 200 days. This pattern is often considered a bullish signal.
Van Lagen's tweet details a bullish neckline/SMA200 retest, showing strong potential for an upward movement.
Lagen also marked a “perfect bear trap” that he believes is now complete.
This signals that pessimistic traders – who may have been anticipating further price drops – may find themselves headed in the wrong direction in a potential bull run, hence the term “bear trap”. ".
Van Lagen's analysis of Bitcoin's trajectory predicts a "boom top," a massive bull run.
The bullish analysis is in line with recent predictions from banking giant JPMorgan. The bank's strategists forecast Bitcoin's potential value at $45,000.
Currently, the Bitcoin price is trading at $26,762, down more than 61% from its all-time high of $69,044 in November 2021.
Source: TradingView
Join Telegram of Bitcoin Magazine: https://t.me/tapchibitcoinvn
Follow Twitter: https://twitter.com/tapchibtc_io
Follow Tiktok: https://www.tiktok.com/@tapchibitcoin
Annie
According to U.today
