A crypto analyst, Master Kenobi, thinks Bitcoin is about to skyrocket. He’s spotted a repeating pattern (a “fractal”) in Bitcoin’s price that matches a similar pattern from the last bull market. This pattern suggests a potential price surge.
The 157-Day Pattern
Kenobi noticed a 157-day period last year with a specific price action and RSI (Relative Strength Index) readings. He believes history is repeating itself. This year’s 157-day period, which ended recently, supposedly mirrors last year’s. According to his analysis, a significant Bitcoin price rally should begin now.
While he can’t say exactly how long this rally will last, he points out that last year’s 157-day period was followed by a 51-day rally. If this pattern repeats, Bitcoin could hit $169,000 by March 2nd.
Chart Analysis and Potential Dip
Kenobi’s analysis involves adjusted trendlines on Bitcoin’s chart. Ideally, he says, the price should close near a specific trendline for perfect symmetry. This isn’t crucial, but it would strengthen his prediction. If this happens, he warns of a possible temporary dip to around $88,000-$89,000 before the big climb. He also acknowledges the possibility of the rally lasting slightly longer than 51 days.
Bull Market Still Strong?
Another analyst, Titan of Crypto, agrees that the Bitcoin bull market is far from over. He believes the upward trend will continue as long as Bitcoin closes each month above the 38.2% Fibonacci retracement level. He sees the recent price drop below $93,000 as a normal correction after a 120% surge from August to December.
Currently, Bitcoin is trading around $94,000. Whether these analysts’ predictions pan out remains to be seen, but their analysis provides an interesting perspective on the potential future of Bitcoin’s price.
