Bitcoin: The Next Big Thing, Or Just Another Larry David??? 🤔 BTC @ $97,000

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So, I was just looking at Bitcoin (BTC), and it’s doing this thing. It’s like, you know, when you’re walking down the street and you see a perfectly symmetrical building. Kind of weird, but also kind of cool, right? Well, Bitcoin is now at this $97,000 mark, and it’s showing some seriously bullish patterns. 📈

Bitcoin Price Action Mirrors Bullish Symmetry Patterns

Let me tell you, I talked to this guy on TradingView, ‘TradingShot,’ and he’s like, “Larry, Bitcoin just bounced off its 100-day Moving Average (MA).” Now, this is important because back in January 2024, this exact same thing happened, and it led to a massive price rally. I mean, who knew math could predict crypto moves? 🤓

Basically, the way Bitcoin is moving now is eerily similar to how it moved last year. Remember when it bounced off the MA100 and then started this beautiful, symmetrical pattern that pushed it to new all-time highs? Well, we’re seeing that again. It’s like a financial Groundhog Day, but with more money. 💸

And get this, ‘TradingShot’ showed me a chart (yes, I read charts now) where Bitcoin is in this “Channel Up pattern.” It’s like a road that goes up, and it’s got these two accumulation channels. It’s a period where Bitcoin is just chilling, collecting its thoughts, and then BAM! It’s off to the races. 🏎️

From 2023 to 2024, Bitcoin was in its first accumulation channel. Now, it’s in its second one, and it’s getting ready to break above it. It’s like a caterpillar getting ready to become a butterfly, but instead of wings, it’s gonna have more zeros. 🐛➡️🦋

‘TradingShot’ pointed out an “amazing RSI-based symmetry of two fractals.” For those of you who don’t speak crypto, it’s like finding a perfect set of twins in a crowd. He’s saying that this Channel Up pattern is a strong long-term indicator that could push Bitcoin to the top of its cycle. 😱

He also noted that the Relative Strength Index (RSI) is sitting near the $97,000 level, and it’s showing this near-perfect symmetry between the two accumulation channels. In both channels, the intervals between the RSI lower highs are almost identical. It’s like Bitcoin is following a script, and the script says, “Go up, go up, and go up some more!” 📊

Fibonacci Projections Point To $145,000 By March

So, based on this bullish symmetry, ‘TradingShot’ thinks Bitcoin could hit a new all-time high of $145,000 between March and April 2025. He marked the 2.618 Fibonacci extension level on the chart, and it’s looking pretty promising. 🌈

Back in the first cycle, Bitcoin rallied to around $73,000. Now, with the same Fibonacci ratio, the projected peak is $145,000. It’s like Bitcoin is on a mission to double its previous high, and it’s got the patterns to back it up. 🚀

So, is this the next big thing, or is it just another episode of Curb Your Enthusiasm with Bitcoin? Who knows? But one thing’s for sure: it’s gonna be a wild ride. 🎢

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2025-02-07 05:43