Bitcoin's recent move to $8,000 is about to kick off a parabolic run

21 May, 2019 | Updated: 21 May, 2019
by Joeri Cant
Bitcoin
Bitcoin's recent move to $8,000 is about to kick off a parabolic run

Well-known crypto analyst Nebraskan Gooner, recently took to Twitter to suggest that Bitcoin’s current daily chart structure is looking much like it did during its 2013 rally and that BTC might be ready to kick off a parabolic run.

The crypto analyst explained that he usually is pretty conservative in his Bitcoin predictions, however, he seems to see great potential in the fact that Bitcoin's current daily chart structure is pretty much looking exactly as it did during its 2013 rally.

The founder of the crypto exchange Level, points to the above chart that shows the current candle formation to be exactly the same as what was experienced prior to Bitcoin rallying from $200 to $1,200, back in 2013.

Because of this Gooner believes that a huge 'parabolic' rally may just be around the corner.

He further noted that his own 'Top Goon X' indicator, has only ever given the 'Parabolic' daily signal 5 times. 

The last four times a 'parabolic' signal appeared on the daily chart, Bitcoin's experienced massive growth over the coming months and years.

The 5th time is now upon us, so if history repeats, it is safe to say that 'crypto winter' is indeed over, and that Summer is just on the horizon.

What do you think? Is BTC about to go parabolic? Let us know in the poll below and share your comments.

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Read more about: Bitcoin (BTC)

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