The 1-2/1-2 phenomena is a familiar pattern that could identify a potentially strong trend in any given asset, and the recent Bitcoin charts may have produced this pattern. If this is true, the cryptocurrency is pointing towards an extended parabolic rally in the coming months.
The bullish setup is beginning to be replicated across several other cryptos, indicating a potential full market participation in the ensuing run. This pattern has been identified as the 1-2/1-2 setup and is seen by analysts as a sign of a larger impulse wave continuing to move in the same direction of the initial wave 1.
We are of course entering a territory of speculation, but the similarities between the two correction phases and above information could point to yet another powerful Bitcoin rally coming up in the next few months. The current price action could suggest Bitcoin will extend the larger wave 5 rally in the coming months, pushing the asset to even higher heights.
The stock-to-flow model suggests that this could indeed be the case, but only time will tell (for now) if the same behaviour will take hold and send Bitcoin even higher. The present situation of the cryptocurrency market reminds us of the equation: it's as easy as 1-2 1-2.
Cryptocurrency markets appear to be heating up, with Bitcoin exhibiting a 1-2/1-2 setup - suggesting an extended parabolic rally in the near future. After making a correction that was similar in both size and time post the November 2022 bottom, Bitcoin is now seemingly ready to make a full bullish rally. It is not only Bitcoin, but several other coins including Chainlink, Litecoin, and the Total Crypto Market Cap chart that are pointing to a potential full market participation in this upcoming rally.
Analysts identify this pattern as the 1-2/1-2 setup, which is a sign of an even larger impulse wave continuing in the same direction. This setup is often seen as a sign of a strong trend and further supports the idea of an extended crypto bullrun in the months to come. The stock-to-flow model and other factors may appear to confirm this bullish pattern, but we should wait and see if this trend truly materializes and sends the coins to even greater heights.
Oliver Martinez
- 2023-05-16
Bitcoin Ready for Extended Bull Run?
Bitcoin and several other cryptos are beginning to show strength with a familiar 1-2/1-2 setup pattern. This pattern has been identified as a sign of a strong trend and could possibly lead to an extended rally in the near future. Analysts suggest that this market may be pointing towards an impending bullrun, and this article provides more details about the 1-2/1-2 setup as well as why a potential Bitcoin/crypto parabolic rally is on the horizon.
