Posted 1/23/2024, 10:15:54 AM
Bitcoin Could Be Primed for Major Bull Run to $120K, According to Glassnode Analysis of Historical Price Patterns
- Bitcoin could be primed for a parabolic rise to $120,000 if historical price patterns repeat, according to Glassnode founders
- Bitcoin has formed a bull flag pattern on the weekly chart, similar to late 2017 and 2020 prior to major bull runs
- Glassnode founders also bullish on equities like Nasdaq - recently surpassed all-time highs and technical indicators like RSI and MACD suggest continued momentum
- Bitcoin currently trading around $40,000, down 3% in the last 24 hours
- Glassnode founders use techniques like Fibonacci extensions and moving averages to analyze price trends and identify potential targets