Bitcoin Monthly Chart Shows Prices Will Jump Higher – Again, Bitcoin Prices (BTC) re-adorn the headlines in major media outlets, revisiting forgotten memories of Buble Crypto 2017, where the meteoric rise of Bitcoin captures world interest and takes it to the highest level of all time, namely $ 19,665 or Rp. 210 million.
And only last week, the $ 10,000 level was touched back by Bitcoin – the last time a price point was created that created a widespread FOMO and caused investors to flock to the crypto market.
After the latest level is formed, the monthly price chart of Bitcoin forms a “Three White Soldiers” candlestick formation which usually signals a strong reversal (Reversal) of financial assets.
But Bitcoin is not an ordinary financial asset, and this reversal of the Bitcoin trend is probably the strongest that humanity will ever witness, according to one of the most famous crypto analysts on Twitter, Galaxy.
Josh Rager, a leading cryptocurrency analyst, said that the monthly BTC chart was very bullish and prices would definitely soar higher.
Many people now realize that Bitcoin is the fastest-rising asset in human history, compared to other assets.
Everyone always hopes that they buy more – even buy consistently through the calculation of the US dollar average because the peak of Bitcoin will make investors get abundant profits.
But BTC is also capable of crashing until prices are extreme with every pop of the next “bubble”, eliminating as much as 80% in value every time the bubble occurs.
However, every time that BTC is declared dead, in the end BTC still makes a triumphant “comeback” that attracts more investors than the previous cycle (even Institutions).
After the brutal Bearish market, which some believed included including an excessive correction below the $ 6,000 level to the lowest position and extreme fear, a very strong Reversal has now taken place.
Bitcoin, from its lowest, deepest and darkest position, has jumped more than 250% and reclaimed important price levels like $ 10,000 and has set its sights on reclaiming the highest value of its time – prices that have been recovered as much as 75% in the past few months.
According to Wikipedia information, the bullish candle pattern “opens in three trading sessions and shows the reversal of the strong price of the Bearish market to the Bullish market.”
“Three White Soldiers helps to confirm that the Bearish market has ended and market sentiment has turned positive.”
Technical analyst and author of the article, Gregory L. Morris, said that this price pattern is very bullish, so “it should not be ignored.”
At the time of the press, the price of Bitcoin was at $ 12,331 or IDR 175 million, up 10.4 percent on 24 hours according to CoinGecko .