Analyst: Bitcoin’s Recent Surge Looks Like the Start of 2019’s 250% Rally


Bitcoin’s flash crash on the weekend has thrown a wrench into the bullish outlook of some analysts. Because BTC was rejected at such a crucial level ($12,000), some have suggested that the asset could see a pullback to pre-rally levels in the $9,000s. Some analysts are not convinced of this sentiment. One trader who predicted Bitcoin’s breakout at the start of 2019 says that the recent price action looks like the bottom of 2018. That’s to say, should history rhyme, the leading cryptocurrency is on the verge of a multi-month rally that may bring it to a new all-time high. Analyst: Bitcoin Looks Now As It Did At the Start of 2019’s Rally According to the trader that predicted Bitcoin’s breakout at the start of 2019, BTC looks structurally similar to the 2018-2019 bear market bottom: “Can’t believe I didn’t see it before. On the Weekly, classic pattern I call…

Read the original article here