Through bull and bear rallies, crypto analysts have always given their forecast for where the price of a crypto like bitcoin might end up. Mostly, this is the norm, but one analyst has taken a deeper dive into the coin to give an in-depth analysis of Bitcoin’s upward rally. The analysis touches on multiple indicators, as well as the widespread acceptance that BTC has been gaining recently.
Bitcoin Price To $70,000
The analysis shared on TradingView shows a different side of the market that has previously been untapped. The analyst who goes by ArShevelev identifies the period between March and August as the ‘Stealth Phase’, which is likely where most of the accumulation occurred.
Next, the crypto entered into the ‘EW Channel’ which looks like it served as a bounce-off point for the rally. From here, it has been an easy coasting upward reaching above the $34,000 mark. But this is where things start to get interesting.
At this level, the analyst predicts a pullback in the price.
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