After a long period of intense downwards pressure, Bitcoin has been able to incur a slight amount of upwards momentum that has led it back towards $10,000, which remains a key psychological price level for the cryptocurrency.<\/p>\n\n\n\n
Now, one prominent analyst who predicted the uptrend that Bitcoin incurred throughout the first half of 2019 is claiming that the cryptocurrency may be in the early stages of its next parabolic uptrend that could lead it significantly past its previously established all-time-highs.<\/p>\n\n\n\n
At the time of writing, Bitcoin<\/a> is trading up just under 2% at its current price<\/a> of $9,780, which marks a decent rise from its daily lows of roughly $9,500, and it is likely that the next major target for BTC\u2019s bulls will be $10,000 \u2013 which has previously proven to be a strong support level.<\/p>\n\n\n\n Today\u2019s price surge came shortly after Raoul Pal, a popular crypto analyst on Twitter, told his over 100k followers that he believes that Bitcoin is currently near the bottom of a large wedge pattern that may lead it significantly higher in the near future.<\/p>\n\n\n\n \u201cIf you don’t have any bitcoin $BTC #bitcoin then this looks like the last time to board the rocket ship… I LOVE wedge patterns like this. They have a high probability of success. Good luck. There is a “[expletive] ton” going on in macro land,\u201d Pal noted.<\/p>\n\n\n\n