{"id":653737,"date":"2024-11-19T08:00:52","date_gmt":"2024-11-19T08:00:52","guid":{"rendered":"https:\/\/wncen.com\/?p=653737"},"modified":"2024-11-18T15:08:00","modified_gmt":"2024-11-18T15:08:00","slug":"bitcoin-parabolic-phase-just-begun-is-btc-hitting-100000-this-week","status":"publish","type":"post","link":"https:\/\/wncen.com\/bitcoin-news\/bitcoin-parabolic-phase-just-begun-is-btc-hitting-100000-this-week\/","title":{"rendered":"Bitcoin \u2018Parabolic Phase Just Begun\u2019, Is BTC Hitting $100,000 This Week?"},"content":{"rendered":"

Bitcoin (BTC) started the week by breaking out of a bullish pattern after moving sideways for most of the weekend. The flagship cryptocurrency just started its \u201cparabolic phase,\u201d sitting 3.4% below its all-time high (ATH), which could bring \u201cmassive moves\u201d for BTC this week.<\/p>\n

Related Reading: Shiba Inu (SHIB) Ready To Roar! Analyst Calls For A 200% Spike<\/a><\/div>\n

Bitcoin \u2018Parabolic Phase\u2019 Just Started<\/h2>\n

Bitcoin has seen a massive surge<\/a> in the last two weeks, jumping 32% to the $89,000-$90,000 price range. BTC\u2019s remarkable performance saw it soar 11% last Monday, preparing the ground for its eventual surge toward its latest ATH of $93,400 two days later.<\/p>\n

Since then, Bitcoin\u2019s price has hovered between the $89,000-$92,000 range, briefly falling to $87,000 last Friday. Over the weekend, the flagship crypto continued to move within this rage, registering its largest weekly close in Bitcoin history.<\/p>\n

Crypto analyst Rekt Capital pointed out that BTC is barely starting<\/a> its \u201cparabolic phase,\u201d noting that week three of the cycle\u2019s \u201cfirst price discovery uptrend\u201d started today. The analyst explained that, historically, BTC has seen around 300 days of parabolic run each cycle, with the first major pullback coming over a month after entering price discovery mode.<\/p>\n

\"Bitcoin\"
BTC’s “parabolic Phase” stages. Source: Rekt Capital on X<\/a><\/figcaption><\/figure>\n

Per the post, it took six weeks before the flagship crypto\u2019s first major pullback<\/a> in 2013. In 2017, BTC rallied for eight weeks before registering a deeper pullback. Meanwhile, it soared for four weeks before experiencing a major retrace in the 2020-2021 cycle.<\/p>\n

Based on this, the analyst considers that \u201chistory suggests there’s more upside to come and that the first Price Discovery Correction is still weeks away.\u201d<\/p>\n

Is A Move Massive Move Coming This Week?<\/h2>\n

Ali Martinez noted<\/a> that Bitcoin seems to be repeating 2020\u2019s pattern. In 2020, after breaking its previous ATH of $19,700, BTC rose 26% and consolidated for a week. Following its consolidation, BTC jumped 66% toward $40,000 in the next two weeks.<\/p>\n

Martinez pointed out that Bitcoin has risen 28% since surpassing its March ATH and has been consolidating for nearly a week. This suggests that the cryptocurrency\u2019s price could be getting ready for a substantial surge in the following days, potentially hitting the $100,000 mark this week.<\/p>\n

Crypto Yapper, another market watcher, stated<\/a> that Bitcoin will likely make a \u201cmassive move\u201d soon. The analyst highlighted the flagship crypto\u2019s consolidation, noting the significant price action around the $89,000-$90,000 mark.<\/p>\n

Related Reading: Bitcoin Bulls Aren\u2019t Backing Down: Rally Continues?<\/a><\/div>\n

This horizontal level acted as a key resistance zone earlier last week but has been confirmed as support throughout the past five days. As Bitcoin retested the $91,000 earlier today, the analyst also pointed out its price could continue the bullish trajectory and aim for a new ATH around $95,000.<\/p>\n

Additionally, BTC started the week breaking out of a one-week symmetrical triangle pattern. To Crypto Yapper, this is a \u201ctypical continuation pattern\u201d for the cryptocurrency, which suggests that Bitcoin is set to continue its climb if the breakout<\/a> is confirmed throughout the day. The analyst stated that BTC\u2019s continuation of its uptrend could hit $100,000 by Sunday.<\/p>\n

As of this writing, Bitcoin is trading at $90,260, a 10% increase in the weekly timeframe.<\/p>\n

\"bitcoin,
Bitcoin’s performance in the weekly chart. Source: BTCUSDT on TradingView<\/a><\/figcaption><\/figure>\n
Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) started the week by breaking out of a bullish pattern after moving sideways for most of the weekend. The flagship cryptocurrency just started its \u201cparabolic phase,\u201d sitting 3.4% below its all-time high (ATH), which could bring \u201cmassive moves\u201d for BTC this week. Related Reading: Shiba Inu (SHIB) Ready To Roar! Analyst Calls For A 200% Spike Bitcoin \u2018Parabolic Phase\u2019 Just Started Bitcoin has seen a massive surge in the last two weeks, jumping 32% to the $89,000-$90,000 price range. BTC\u2019s remarkable performance saw it soar 11% last Monday, preparing the ground for its eventual surge toward its latest ATH of $93,400 two days later. Since then, Bitcoin\u2019s price has hovered between the $89,000-$92,000 range, briefly falling to $87,000 last Friday. Over the weekend, the flagship crypto continued to move within this rage, registering its largest weekly close in Bitcoin history. Crypto analyst Rekt Capital pointed out that BTC is barely starting its \u201cparabolic phase,\u201d noting that week three of the cycle\u2019s \u201cfirst price discovery uptrend\u201d started today. The analyst explained that, historically, BTC has seen around 300 days of parabolic run each cycle, with the first major pullback coming over a month after entering price discovery mode. Per the post, it took six weeks before the flagship crypto\u2019s first major pullback in 2013. In 2017, BTC rallied for eight weeks before registering a deeper pullback. Meanwhile, it soared for four weeks before experiencing a major retrace in the 2020-2021 cycle. Based on this, the analyst considers that \u201chistory suggests there’s more upside to come and that the first Price Discovery Correction is still weeks away.\u201d Is A Move Massive Move Coming This Week? Ali Martinez noted that Bitcoin seems to be repeating 2020\u2019s pattern. In 2020, after breaking its previous ATH of $19,700, BTC rose 26% and consolidated for a week. Following its consolidation, BTC jumped 66% toward $40,000 in the next two weeks. Martinez pointed out that Bitcoin has risen 28% since surpassing its March ATH and has been consolidating for nearly a week. This suggests that the cryptocurrency\u2019s price could be getting ready for a substantial surge in the following days, potentially hitting the $100,000 mark this week. Crypto Yapper, another market watcher, stated that Bitcoin will likely make a \u201cmassive move\u201d soon. The analyst highlighted the flagship crypto\u2019s consolidation, noting the significant price action around the $89,000-$90,000 mark. Related Reading: Bitcoin Bulls Aren\u2019t Backing Down: Rally Continues? This horizontal level acted as a key resistance zone earlier last week but has been confirmed as support throughout the past five days. As Bitcoin retested the $91,000 earlier today, the analyst also pointed out its price could continue the bullish trajectory and aim for a new ATH around $95,000. Additionally, BTC started the week breaking out of a one-week symmetrical triangle pattern. To Crypto Yapper, this is a \u201ctypical continuation pattern\u201d for the cryptocurrency, which suggests that Bitcoin is set to continue its climb if the breakout is confirmed throughout the day. The analyst stated that BTC\u2019s continuation of its uptrend could hit $100,000 by Sunday. As of this writing, Bitcoin is trading at $90,260, a 10% increase in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":604954,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,84297,86073,85510,85638,1119,78790,26263,10923,93128,89756],"class_list":["post-653737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-ath","tag-bitcoin-breakout","tag-bitcoin-bull-cycle","tag-bitcoin-consolidation","tag-btc","tag-btcusdt","tag-crypto-analyst","tag-crypto-market","tag-crypto-market-retrace","tag-crypto-trader"],"acf":[],"yoast_head":"\nBitcoin \u2018Parabolic Phase Just Begun\u2019, BTC To $100K This Week?<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) recent trajectory seems to be repeating past cycles\u2019 price action, 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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