CandleFocus Trader Says Bitcoin Has Finally Begun Parabolic Phase – Here’s How Long He Thinks the Bullish Cycle Can Last
2024-11-22
Author: Content Editor
The trader pseudonymously known as Rekt Capital believes that Bitcoin has just entered its parabolic phase in the current cycle and is only 16 days into it. The analyst suggests that based on historical patterns, Bitcoin has stayed in this phase for around 300 days on average in previous cycles. The analyst also predicts that a correction may not occur for another few weeks, based on previous cycles. In addition, Rekt Capital states that Bitcoin will likely reach its peak when it is least expected and not mentioned as a possibility. Regarding Ethereum, Rekt Capital notes that it is currently showing a bullish signal on the weekly time frame and may revisit the resistance level of $3,700.
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