BTC Will Top Out At $73,200 In 2021 According To Analysts

BTC will top out at $73,200 in 2021 according to the analysts that we will discuss more in the latest bitcoin news today.

Bitcoin has enough fuel to continue the bull run until its price reaches the predicted level of $73,000 according to analyst Alan Masters. The independent consultant shared his bullish outlook for the number one cryptocurrency after he started studying the long timeframe charts. He noted that the BTC/USD monthly chart printed TD Sequential signals since 2016 and resulted in a bullish rally each time.

Even on the weekly timeframes since 2020, each of the TD Sequential cycle where the asset printed eight or nine consecutive candles before in the same direction before it changed courses and led the pair exchange rates higher. Mr. Masters called the technical indicator a “real deal” suggesting that the historical accuracy will push the pair towards $44,000 or $44,600. It is having a parabolic run with no signs of stopping as the analyst stressed and it seems that BTC will top out higher levels such as $73,200.

The charts by Mr. Masters showed BTC in a repetitive upside pattern and the weekly one even outlined the crypto’s tendency to correct lower after printing eight or nine candles as a part of its TD Sequence.
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In doing so, it tested the 21-period moving average support but the price continued increasing. The first such instance happened in late May 2020, followed by repetition in August and November while on the monthly charts the pattern was visible all over the place and printed the seventh TD Sequential candle in December 2020 pointing to a bullish continuation until January and February 2021.

When we look at the volume indicator, there’s certainly more room for so much more according to Mr. Masters and the real bullish action is yet to start. Mr. Master’s analysis was created as BTC Achieved another record high level this week of $29,321 with many traders agreeing the crypto will soon touch the $30,000 milestone and ending the year with a 600 percent increase from its mid-March lows of $3,858. The asset is expected to hit $73,200 later in the year.

The main reason behind the latest bull run is the fear of inflation. BTC bulls have long dictated the crypto as a safe haven asset against the fiat crash citing verifiable scarcity as one major reason. The narrative picked momentum against the backdrop of the COVID-19 pandemic. Institutions and corporations entered the BTC market to promise that the crypto will protect their portfolio and reserves against the crashing US dollar. Since mid-March, the US dollar index lost about 12 percent of its value and all happened once the FED decided to provide a new US Stimulus check.