- Bitcoin weekly chart confirms a textbook bullish pattern.
- The pattern suggests a return to ATH price level for BTC.
- Analyst weighs in and shares what he hopes to see for a healthy crypto market.
Bitcoin continues its steady movement in the lower $80,000 price range, and analysts set about finding patterns that suggest what to expect next for BTC price. One observation notes that the Bitcoin weekly chart confirms a textbook bullish pattern suggesting a major recovery from its previous ATH price of $109,114.88.
Bitcoin Weekly Chart Confirms Textbook Bullish Pattern
As we can see from the post above, this analyst notes that the Bitcoin weekly chart has confirmed a textbook bullish pattern following the recent close on Sunday. This close suggests a return back to the asset’s previous ATH prices in the $109,000 price range. The analyst concludes that a near 27-30% recovery move is possible and the data supports this recovery.
Crypto Analyst Shares Healthy Market Expectations
Meanwhile, a seasoned crypto analyst expresses his take on the current market. He says while he would certainly wish to see a pump in the long term, he would be more stressed than happy to see the market pump at the moment. He believes the crypto market needs to take its time to truly give back an exponential pump in the long term.
In conclusion, this seasoned crypto analyst, Miles Deutscher encourages stages to dedicate to a period of focus and building. If the market drops, attention should be given to really capable crypto assets and perhaps after a month or two of building, an up-only phase will arrive as many expect from the crypto market.
