Bitcoin Close to its “Take-off Phase” – What Does it Mean?
13.07.2024 19:00 1 min. read Alexander Stefanov
Bitcoin (BTC) has once again faced resistance below the $60,000 mark, signaling a potential rally in the future despite recent challenges.
In a TradingView analysis, crypto market expert TradingShot highlighted Bitcoin’s readiness for its next aggressive phase.
The analysis delved into Bitcoin’s historical price cycles, emphasizing the relative strength index (RSI) and cyclical angles as indicators for significant price movements. Each cycle, from 2012 to 2021, has shown a decreasing angle from peak to trough: 54° in 2012-2013, 42° in 2015-2017, and 30° in 2019-2021.
Based on this pattern, the current cycle is expected to peak at approximately 20° from its low point. Despite the declining angle rates, the one-week RSI has maintained stability around 25°, serving as a reliable sell indicator before entering the next bearish phase.
The analysis categorized Bitcoin’s market phases into bottom formation, accumulation, and impending take-off. Currently in the accumulation phase, Bitcoin has yet to enter its most aggressive price movements, known as the take-off phase, according to TradingShot.
-
1
Bitcoin Targets Breakout as Macro Factors Shift, According to Matrixport Analysis
24.03.2025 21:00 1 min. read -
2
Bitcoin Adoption Still in Early Stages, With U.S. Leading the Way
10.03.2025 9:00 2 min. read -
3
Bitcoin Accumulation Signals Early Signs of Market Recovery
20.03.2025 15:00 2 min. read -
4
Coinbase Introduces 24/7 Crypto Futures Trading in the U.S.
11.03.2025 9:00 2 min. read -
5
Who is Actually Behind El Salvador’s Bitcoin Holdings?
14.03.2025 18:00 2 min. read
As Trump’s Tariffs Unfold, What’s Next for Bitcoin and the Crypto Market?
The recent tariff hikes under the Trump administration are stirring uncertainty across global markets, with cryptocurrencies feeling the ripple effects.
Bitcoin Bull Run Ahead? Weaker Dollar Could Be the Key
Bitcoin’s potential for a bull run might depend on the trajectory of the US Dollar Index (DXY), according to prominent crypto trader CarpeNoctom.
Bitcoin ETFs See $100 Million Outflow as Tariff News Shakes Markets
Bitcoin exchange-traded funds (ETFs) in the United States recorded significant net outflows of nearly $100 million on Thursday, coinciding with a sharp decline in the U.S. stock market.
Crypto Expert Sees Bitcoin Going for a Rally After Tariff Shock
Crypto analyst Crypto Capo believes that Bitcoin may be on the verge of a significant upward move despite its recent dip.
-
1
Bitcoin Targets Breakout as Macro Factors Shift, According to Matrixport Analysis
24.03.2025 21:00 1 min. read -
2
Bitcoin Adoption Still in Early Stages, With U.S. Leading the Way
10.03.2025 9:00 2 min. read -
3
Bitcoin Accumulation Signals Early Signs of Market Recovery
20.03.2025 15:00 2 min. read -
4
Coinbase Introduces 24/7 Crypto Futures Trading in the U.S.
11.03.2025 9:00 2 min. read -
5
Who is Actually Behind El Salvador’s Bitcoin Holdings?
14.03.2025 18:00 2 min. read
