Bitcoin Forms Parabolic Trendline, But Veteran Trader Eyes Potential Correction

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Bitcoin and the entire cryptocurrency market have been caught within a parabolic advance as of late, with BTC leading the charge as altcoins follow its lead Where the cryptocurrency trends next will undoubtedly depend on whether or not bulls can maintain control of its price action as it approaches $30,000 This rally is nothing short of parabolic, with Bitcoin tapping a half a trillion-dollar market cap yesterday evening One veteran trader is now pointing to a parabolic trendline that the cryptocurrency has formed over the past couple of months He notes that although this is holding strong for now, there’s a strong possibility that the crypto could see a correction below the trendline in the mid-term Bitcoin and the entire crypto market have surged higher over the past 24-hours. Bulls took full control of BTC overnight, sending its price rocketing to highs of $28,500 overnight before it faced some intense…

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