Build Base Or Bust? Bitcoin Touches Down On Parabolic Support

Bitcoin price is trading in the mid-$40,000 range, unable to get through $50,000 but still holding strong the higher the recovery goes. The series of higher lows continues, potentially creating another base for the cryptocurrency to blast off from. This base would mark the third out of four before the “selling point” according to how parabola works in financial markets. But this is all contingent on Bitcoin price holding a very crucial curved support line, extending from the asset’s bear market bottom. Take a look. Will The Bitcoin Parabola Break Or Blast Off From Here? The king of cryptocurrency is stuck – between new highs and new lows, so the market is undecided and fearful despite the high prices. Several signs point to the peak at $65,000 being the top of the cycle, which would mean targets fell significantly short of the hundreds of thousands of dollars per coin which were expected before it was all said and done. Related Reading | Bitcoin Golden Cross: Everything You Need To Know About The Bullish Signal The hope is that what was witnessed in April around the time when Coinbase Global went live on the Nasdaq is instead a mid-cycle pullback before the rest of the rally resumes. Will a base build or the curve bust through? | Source: BTCUSDT on TradingView.com During each bull market cycle, a series of higher lows keeps the cryptocurrency climbing until the trend ends. According to where the lat...