The crypto market has some optimistic predictions in the market lately, as these prediction came after the disaster in the crypto market.
According to the data which has been just reported, a popular crypto investor believes that the largest cryptocurrency in the market Bitcoin (BTC) is trading a pattern which indicates that the asset bulls are in their way to take over the market.
However, Raoul Pal, the Real Vision CEO, says in a new video that the king cryptocurrency Bitcoin is forming a falling wedge pattern, which is a technical formation that indicates future bullish momentum.
And he did just say that the Bitcoin has just hit the wedge bottom:
“And that normally would mean we would rise to the top – I’d like to see generally three touches of the wedge. We had three on the downside. We would touch it again on the upside, generally, pull back into the range, and then we go.” He also explained the following: “That was exactly the kind of pattern that we had in March 2020. We were at the top of the range, we shot straight back into the middle of the range – that was the bicycle.”
In addition, he added and said:
“So it doesn’t mean we’re going to go up in a straight line from here, but we probably go up significantly – maybe touch the top of that channel, so maybe we get to $35,000, come back down somewhere, whether it comes back to the low or somewhere in the middle, and that will be the final signal. That’s what I’m thinking.”
By the time of writing this article, the Bitcoin is trading at the price of $29,169.76 in red color.