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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-bitcoins-dramatic-price-surge/" data-wpel-link="internal">Analyst Predicts Bitcoin’s Dramatic Price Surge</a> 
Macro <a href="https://en.coin-turk.com/renowned-crypto-analyst-dave-the-wave-shares-new-predictions-for-litecoin-and-bitcoin/" data-wpel-link="internal">Bitcoin</a> predictions expert and seasoned cryptocurrency analyst TechDev believes Bitcoin (BTC) is on the verge of a significant price explosion that could lead to a dramatic peak. Sharing his views with his followers on social media platform X, the analyst highlighted that Bitcoin’s current trading range on the five-day chart is the narrowest in the last eight years, indicating a significant breakout. 
<h2 style="text-align: justify" id="strong-narrow-trading-range-signals-potential-breakout-strong">Narrow Trading Range Signals Potential Breakout</h2> 
TechDev noted that a narrow trading range within an uptrend typically aligns buyers closely with the price levels desired by sellers, leading to price compression. Such compression usually occurs before a breakout. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-358681" src="https://coin-turk.com/wp-content/uploads/2024/06/Bitcoin-Analiz-Yorum.jpeg" alt="" width="1685" height="1039"> 
To support his analysis, the analyst used logarithmic Bollinger Bands, a tool for measuring Bitcoin’s historical volatility. He pointed out that the current five-day bullish pressure level is unprecedented in the last eight years, marking a significant milestone for the largest cryptocurrency. 
<h2 style="text-align: justify" id="strong-techdev-s-expected-breakout-and-price-rally-strong">TechDev’s Expected Breakout and Price Rally</h2> 
As Bitcoin’s trading range continues to narrow, TechDev predicts that the emerging breakout will likely lead to rapid and steep rallies. He explained this by highlighting the recent textbook breakout of the M1 money supply chart against BTC. According to TechDev, this breakout is a strong indicator that Bitcoin is preparing for a parabolic surge similar to the sharp price increases seen in the 2017, 2015, and 2013 bull markets. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-358682" src="https://coin-turk.com/wp-content/uploads/2024/06/Bitcoin-BTC-M1-Para-Arzi.jpeg" alt="" width="1614" height="1346"> 
The analyst noted that historically, Bitcoin has formed peak surges following breakouts against the M1 money supply. According to him, the longer Bitcoin consolidates, the more prolonged the subsequent breakout rally tends to be. 
The current consolidation follows the longest consolidation period to date, suggesting that the upcoming surge could be particularly significant. TechDev stated that with Bitcoin becoming impulsive against the M1 money supply for the first time since 2017, this breakout is a textbook example of a five-year expanding wedge formation. 
The M1 money supply measures liquidity in the US <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">financial</a> system by aggregating all physical money, including fiat currencies, currency, demand deposits, traveler’s checks, and other checkable deposits. TechDev’s analysis indicates that Bitcoin’s breakout against the M1 money supply is a critical signal of significant price increase potential. The unprecedented nature of this breakout suggests that the largest cryptocurrency could experience an extraordinary rise never seen before. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-bitcoins-dramatic-price-surge/" data-wpel-link="internal">Analyst Predicts Bitcoin’s Dramatic Price Surge</a></h5>

Analyst Predicts Bitcoin’s Dramatic Price Surge

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