Famous analyst Ali Martinez, Bitcoin $102,950.2He claimed that 2015 could repeat the harsh rise cycle. According to Martinez, the biggest crypto currency may be experiencing the last wave of decline. However, after this movement will make a quick and hard rise. The Analyst, who pointed out similarities with the 2015-2018 cycle, stressed that BTC can soon test historical summits. But this optimistic painting has an important warning. Accordingly, the distribution phase may begin after the rise.
2015 cycle similarity in Bitcoin
Martinez, Bitcoin‘s price movements in 2015 showed similarity to the cycle, he said. In the past cycles, it is seen that the BTC made a paraboolic leap after consolidation at the existing levels. The analyst pointed out that the current stagnation could be a harbinger of a similar rise.
The graphics shared by Martinez show that Bitcoin has risen after a final decline in 2015. If this scenario takes place, the biggest crypto currencyIt can be expected to overcome significant resistances in a short time. However, the analyst warned that investors should be careful. Because after the rise, the “distribution phase” can be triggered by a harsh wave of decrease in the price.
What does the Wyckoff method say?
Analyst, to foresee Bitcoin’s future price movement Wyckoff methodHe used it. According to this management, BTC is now at the end of the “accumulation phase .. After the upcoming rise, the “distribution phase” can be passed. Martinez estimates that Bitcoin can reach $ 200,000 in this process.
In the Wyckoff Method, the distribution phase refers to the period in which investors began to sell the assets collected at a high price. This causes the price to reach the summit and then enter the fall trend.
Martinez warned Bitcin that he could face sales pressure after 200 thousand dollars. Existing data indicate the risk that a similar decline in the 2018 cycle may be experienced.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
