Bitcoin (BTCUSD) is most likely starting the new Bullish Leg of this Cycle, as stated on our recent analysis following the 1D MA50 (red trend-line) rebound.
Today we point out the critical role of Pivot trend-lines, which throughout the entirety of the current Bull Cycle, have provided a Support level and initiated massive rebounds.
Those Bullish Legs not only tend to be similar in strength (+60% to +92%) but the time between their starts is roughly the same (39 to 46 weeks).
Given also the fact that the 1W RSI has printed the same kind of consolidation it always forms when such a Bullish Leg started, we do expect a strong rally next, which if the +60% minimum rise holds, may very well be as close as $180000.
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