- Analysts say huge sideways movement is ahead for Bitcoin (BTC).
- They preach the need for patience in what could be a boring few months ahead.
- The final sentiment says this will lead to only upward movement and a Bitcoin supply shock.
As the crypto market settles into a steady sideways movement, crypto and Bitcoin (BTC) analysts study the charts and make keen observations. Using available analytics like historical charts and ongoing market movements, top crypto analysts have come to a resounding conclusion, bullish waves incoming.
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For instance, the silver-tongued crypto and Bitcoin analyst Doctor Profit reminds the crypto community to remain faithful. He mentions how all his calls so far have proven true. He draws light to his first call, incoming $48,000 when BTC was $38,000, the reverse, then $55,000. Now, he preaches the next leg up to a $72,000 BTC price.
Having said that, Doctor Profit mentions that this next target will only arrive after a massive and long sideways movement that could take months. Thus, he asks the community to accept this slow and boring price action and remain patient because this sideways movement will only keep going up.
Meanwhile, another analyst takes a big-picture look at the BTC price chart. According to this analyst the Magic Bands still points to a BTC target of $91,184. However, he says the cycle top is now standing at $122,884 for Bitcoin (BTC).
He explains how these magic bands have been hit for every Bitcoin cycle so far. Yet, the band can increase as the price rises. He too advices patience. So far, CryptoCon has made other bullish observations for Bitcoin, and it all seems to be aligning.
Finally, popular analyst Ash Crypto reminds the crypto community of a huge Bitcoin supply shock coming our way. He notes that the Honk Kong ETFs now hold 4278 BTC worth $265 million. So far, these ETFs have newly minted BTC and an additional 678 Bitcoin.
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