A “Massive” Bitcoin Move Pending?
A “Massive” Bitcoin Move Is Pending: Here’s What Analysts Expect Is Next
Bitcoin has been stuck in a tight consolidation pattern over the past six to eight weeks. Prices have barely deviated from a relatively tight $2,000 range, with each attempt at breaking out failing dramatically as millions of dollars worth of leveraged positions are liquidated.
Yet at long last, a big move is coming, an analyst has said.
He shared the chart below, arguing that his use of a “time-based Fibonacci extension” found that a move out of the range is likely to take place in the coming seven days. And according to him, the breakout will be on a ‘massive’ scale:
‘We have spent 49 days today inside this exact range shown. The move when it comes should be massive. Position accordingly.’”