bullish

Parabolic

Bitcoin

Rekt

Bitcoin sought a reclaim of $60,000 into the Aug. 18 weekly close as “out of hours” BTC price action saw strength.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-08/692865f6-fcb9-4675-9888-66d7b88e8ccc.png" alt="Bitcoin metrics line up bull signals with $60.6K BTC price level to beat" title="">
 <figcaption style="text-align: center;">
 BTC/USD 1-hour chart. Source: TradingView
 </figcaption>
</figure>
<h2 data-ct-non-breakable="true" id="ichimoku-crossover-leads-bullish-btc-price-signals">Ichimoku crossover leads bullish BTC price signals</h2>
Data from <a href="https://subscription.cointelegraph.com/?_gl=1*7499wx*_ga*MTQ0MzQ0NzI4Ny4xNzE2MzY1NTA0*_ga_53R24TEEB1*MTcxNjM2NTUwNC4xLjEuMTcxNjM2Njg2MC4wLjAuMA..">Cointelegraph Markets Pro</a> and <a href="https://www.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" target="_blank" rel="noopener nofollow">TradingView</a> showed new local highs of $60,271 on Bitstamp on the day.
Despite the absence of traditional market traders, Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>)&nbsp;slowly edged higher throughout the weekend, while price indicators hinted at continued upside to come.
Analyzing the Ichimoku cloud on daily timeframes, popular trader Titan of Crypto flagged a key bullish crossover, setting Bitcoin up for an upward run.
“BTC just closed a candle above Tenkan and is now eyeing a Kijun reclaim,” he <a href="https://x.com/Washigorira/status/1825097784707420518" target="_blank" rel="noopener nofollow">wrote</a> in part of accompanying commentary on X.
Titan of Crypto referred to the classic TK crossover, an event on an Ichimoku chart that traders look for as a sign of an <a href="https://cointelegraph.com/news/bitcoin-ichimoku-cloud-btc-price-bounces-4-month-low">imminent upside breakout</a>.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-08/4f113c98-7516-4a18-a579-2e58022bd272.jpeg" alt="Bitcoin metrics line up bull signals with $60.6K BTC price level to beat" title="">
 <figcaption style="text-align: center;">
 BTC/USD 1-day chart with Ichimoku cloud data. Source: Titan of Crypto
 </figcaption>
</figure>
The post additionally noted a bullish cross for the <a href="https://cointelegraph.com/news/here-s-5-ways-investors-can-use-the-macd-indicator-to-make-better-trades">moving average convergence/divergence (MACD) </a>indicator, which measures the interplay between two moving averages to determine buy and sell points.
“$BTC has a very high chance of pumping again SOON,” fellow trader Alan Tardigrade concluded in his own <a href="https://x.com/TATrader_Alan/status/1825101592049377624" target="_blank" rel="noopener nofollow">post</a> on the topic.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-08/87398af9-e810-445e-9d76-10ec6bf39078.jpeg" alt="Bitcoin metrics line up bull signals with $60.6K BTC price level to beat" title="">
 <figcaption style="text-align: center;">
 BTC/USD 1-day chart with MACD data. Source: Trader Tardigrade
 </figcaption>
</figure>
<h2 data-ct-non-breakable="true" id="bitcoin-s-parabolic-phase-still-in-play">Bitcoin’s “parabolic” phase still in play</h2>
Continuing, popular trader and analyst Rekt Capital reiterated that $60,600 was now the ideal level for bulls to clinch at the weekly close.
Related: <a href="https://cointelegraph.com/news/bitcoin-supply-not-moved-6-months-research">45% of Bitcoin supply has not moved in 6 months — Research</a>
In doing so, the price would win back its post-halving “reaccumulation range” lost during the <a href="https://cointelegraph.com/news/bitcoin-analyst-seller-exhaustion-btc-price-rebounds-10">snap trip to six-month lows</a> earlier in August.
“It would also signal the end of its downside deviation bargain period below the ReAccumulation Range (orange circle),” Rekt Capital <a href="https://x.com/rektcapital/status/1825167694439530944" target="_blank" rel="noopener nofollow">added</a> alongside an explanatory chart.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-08/12762981-e215-45f5-bbd4-4fa125906035.jpeg" alt="Bitcoin metrics line up bull signals with $60.6K BTC price level to beat" title="">
 <figcaption style="text-align: center;">
 BTC/USD 1-week chart. Source: Rekt Capital
 </figcaption>
</figure>
A further post added a countdown to a more intense period of price growth, using past cycles as a guide.
“Bitcoin is ~125 days after the Halving. Bitcoin tends to breakout into the Parabolic Phase of the cycle some ~160 days after the Halving,” it&nbsp;<a href="https://x.com/rektcapital/status/1825167403895922825" target="_blank" rel="noopener nofollow">stated</a>, with Rekt Capital <a href="https://cointelegraph.com/news/bitcoin-trader-2-months-all-time-high-china-cuts-rates">reiterating an existing theory</a><a href="https://cointelegraph.com/news/bitcoin-trader-2-months-all-time-high-china-cuts-rates"></a> from July.
<blockquote data-ct-non-breakable="true">
 “If history repeats, Bitcoin could be just over a month away from breakout. That’s late September.”
</blockquote>
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin metrics line up bull signals with $60.6K BTC price level to beat

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