“BTC may make a comeback! Bitcoin may rebound in a parabolic manner, an exciting moment is coming!”
Bitcoin (BTC) is nearing the parabolic phase of its market cycle, signaling technical indicators that have appeared before previous significant price increases. After nearly two years of bear market recovery, Bitcoin recently broke through the upper limit of the Bollinger Bands in the last two months. The Bollinger Bands, as a volatility indicator, are typically used to identify whether the market is overbought or oversold, so this breakout provides important clues for Bitcoin's future upward trend.
It is worth noting that this Bollinger Band breakout signal has appeared in Bitcoin's history during the 2016 and 2020 market cycles, just before BTC sparked a parabolic surge. Combined with the Logarithmic Moving Average Convergence Divergence (LMACD) indicator, Bitcoin is in a potential parabolic phase, with trends and momentum building up.
The market's 'High Time Frame (HTF) expansion' has not yet ended, suggesting that Bitcoin's upward momentum may not be near its peak.
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