Bitcoin

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 <p class="paragraph">With Bitcoin (BTC) hitting an all-time high of over $73,000 in March, much of the market consensus has focused on $100,000 as the next record price.</p>
 <p class="paragraph">This target could become a reality, according to an <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by crypto trading expert <em>TradingShot</em>, who noted that Bitcoin may be on the brink of a major price surge.&nbsp;</p>
 <p class="paragraph">In a<em> TradingView</em> post on May 29, the analyst highlighted several insights suggesting that Bitcoin is entering the final and most aggressive phase of its current bull cycle, the parabolic rally.</p>
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  <p class="paragraph">“Bitcoin (BTCUSD) is starting the final and most aggressive part of the current Bull Cycle: the Parabolic Rally. The latest and perhaps the strongest signal to confirm that comes from the well known liquidity combo indicators that we have developed these past few years,” the expert said.&nbsp;</p>
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 <h2 class="wp-block-heading" id="h-bitcoin-s-key-indicators-for-parabolic-rally">Bitcoin’s key indicators for parabolic rally</h2>
 <p class="paragraph">The key indicators of this <a rel="noopener noreferrer nofollow" title="rally" href="https://thebittimes.com/tag/rally.html">rally</a> include the global bonds yield pool, the dominant circulating liquidity, and high-yield corporate bonds, alongside the stochastic relative strength index (RSI)</p>
 <figure class="wp-block-image aligncenter size-large"><img decoding="async" width="1024" height="573" src="https://cdn.thebittimes.com/images/2024/05/30/1e5b3e18526299a2c0f620496c5a0ff1.webp" alt="" class="wp-image-179513" srcset="https://cdn.thebittimes.com/images/2024/05/30/1e5b3e18526299a2c0f620496c5a0ff1.webp 1024w, https://cdn.thebittimes.com/images/2024/05/30/1e5b3e18526299a2c0f620496c5a0ff1.webp 300w, https://cdn.thebittimes.com/images/2024/05/30/1e5b3e18526299a2c0f620496c5a0ff1.webp 768w, https://cdn.thebittimes.com/images/2024/05/30/1e5b3e18526299a2c0f620496c5a0ff1.webp 1099w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Bitcoin price analysis chart. Source: TradingView/TradingShot</em>
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 <p class="paragraph">According to the analyst, the global bond yield pool has reversed upwards for the first time this year. Historically, such reversals have been precursors to significant upward movements in Bitcoin’s price.</p>
 <p class="paragraph">Meanwhile, the dominant circulating liquidity and high-yield corporate bonds indicator reverses upwards after hitting a bottom. Similar bottoms were observed in April 2020, October 2016, and July 2012, followed by substantial Bitcoin rallies.</p>
 <p class="paragraph">At the same time, the stochastic relative strength index, a momentum indicator, has just broken above the overbought 80 barrier in the two-month time frame. Historically, this event has been a reliable trigger for bullish reversals in liquidity indicators, typically resulting in Bitcoin reaching a cycle top within the next 12 to 13 months.</p>
 <p class="paragraph">TradingShot’s analysis also drew parallels to previous bull cycles in Bitcoin’s history. The reversal in liquidity indicators and the breach of the overbought barrier on the Stoch RSI have historically coincided with massive price surges.&nbsp;</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“Every time it has done so historically, it has coincided with a massive bullish reversal on those Liquidity Indicators (LI) and Bitcoin made a Cycle top within 12 – 13 months later. As a result, we are expecting BTC to peak a year from now, around May 2025. Brace yourself for a wild ride ahead,” <em>TradingShot </em>added.&nbsp;</p>
 </blockquote>
 <p class="paragraph">If this projection is realized, it could be a welcome development for Bitcoin investors, considering the asset has returned to the familiar territory of trading around the $67,000 mark. Given the ongoing tussle between bears and bulls, Bitcoin appears to be gearing up for a significant price movement as things stand.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-s-extended-consolidation-nbsp">Bitcoin’s extended consolidation&nbsp;</h2>
 <p class="paragraph">Notably, Bitcoin recently hit $71,500 amid the buzz around the Ethereum (ETH) exchange-traded fund (ETF), which turned out to be another bull trap. Despite this, the bulls managed to hold above $67,000 support.</p>
 <p class="paragraph">Amid this consolidation, crypto analyst<em> Rekt Capital</em> suggested in an X post on May 28 that investors should expect extended sideways trading around the $60,000 to $70,000 mark before any significant <a rel="noopener noreferrer nofollow" title="rally" href="https://thebittimes.com/tag/rally.html">rally</a>.</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“Bitcoin is increasingly showing signs that this recent rebound has fed into the formation of another local top (blue square). Ultimately, history suggests Bitcoin is going to likely continue consolidating between ~$60,000 &amp; ~$70,000,” he said.&nbsp;</p>
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 <figure class="wp-block-image aligncenter size-full"><img decoding="async" width="680" height="480" src="https://cdn.thebittimes.com/images/2024/05/30/d60eeb22fd18f752e7978b0bb3cae736.webp" alt="" class="wp-image-179514" srcset="https://cdn.thebittimes.com/images/2024/05/30/d60eeb22fd18f752e7978b0bb3cae736.webp 680w, https://cdn.thebittimes.com/images/2024/05/30/d60eeb22fd18f752e7978b0bb3cae736.webp 300w" sizes="(max-width: 680px) 100vw, 680px">
  <figcaption class="wp-element-caption"><em>Bitcoin price analysis chart. Source: TradingShot/Rekt Capital</em>
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 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2>
 <p class="paragraph">By press time, Bitcoin was trading at $67,620, corrected by less than 0.1% in the last 24 hours. On the weekly chart, BTC is down 3%.&nbsp;</p>
 <figure class="wp-block-image aligncenter size-full"><img loading="lazy" decoding="async" width="675" height="550" src="https://cdn.thebittimes.com/images/2024/05/30/447b39a29d1c8371655ddb288031ffd4.webp" alt="" class="wp-image-179516" srcset="https://cdn.thebittimes.com/images/2024/05/30/447b39a29d1c8371655ddb288031ffd4.webp 675w, https://cdn.thebittimes.com/images/2024/05/30/447b39a29d1c8371655ddb288031ffd4.webp 300w" sizes="(max-width: 675px) 100vw, 675px">
  <figcaption class="wp-element-caption"><em>Bitcoin seven-day price chart. Source: Finbold</em>
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 </figure>
 <p class="paragraph">In the meantime, Bitcoin can realize the <a rel="noopener noreferrer nofollow" title="parabolic" href="https://thebittimes.com/tag/parabolic.html">parabolic</a> <a rel="noopener noreferrer nofollow" title="rally" href="https://thebittimes.com/tag/rally.html">rally</a> if the maiden cryptocurrency manages to break and sustain its price above the $70,000 mark.&nbsp;</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em>&nbsp;The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-flashes-strongest-signal-for-parabolic-rally-is-100k-next-tbt90478.html">https://thebittimes.com/bitcoin-flashes-strongest-signal-for-parabolic-rally-is-100k-next-tbt90478.html</a></p>

Bitcoin flashes strongest signal for parabolic rally; Is $100k next?

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