Long

BTCUSD: Entering the parabolic phase.

Bitcoin is on excellent bullish levels on the 1D technical outlook (RSI = 66.472, MACD = 251.100, ADX = 42.204). Following the correction of the last two months, the market has entered the green zone of the Cycle, which is its parabolic phase. This historic chart on the 1W timeframe shows that this phase lasts around 560 days while the previous blue one, which extends from the bottom of the Cycle, lasts around 500 days. This is a clear indication that at least for a year, Bitcoin will most likely rise parabolically with a possible target zone of 200,000 - 300,000.

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