Bitcoin (BTC) Price Prediction: Super Bull Run Incoming as BTC Forms Descending Broadening Triangle Pattern

Bitcoin spent 20 months to recover from the bear market and got back to the previous high in the last cycle. Currently, BTC spent the same 20 months and reclaimed back to the high with a normal Bull Run. Super Bull run is incoming according to the last moves.

Cryptocurrency market expert and enthusiast Trader Tardigrade has predicted an upcoming super bull run for Bitcoin (BTC) in the next few months.

The expert shared his interesting insights on BTC’s long-term price action via a recent post on the X (formerly Twitter) platform.

According to Tardigrade, in the previous cycle, it took about 20 months for Bitcoin to recover from the bear market and reach its former cycle peak. Now, the expert noted that the crypto asset has mirrored this particular trend in this cycle, spending 20 months before returning to its current all-time high during a typical bull run.

Hence, Tardigrade predicted a super bull run in the near future, which could see the value of the digital asset rising to unprecedented heights in this ongoing bull cycle.

The post reads:

“Bitcoin spent 20 months to recover from the bear market and got back to the previous high in the last cycle. Currently, BTC spent the same 20 months and reclaimed back to the high with a normal Bull Run. Super Bull run is incoming according to the last moves.”

This bullish prediction aligns with a shift in market sentiment from cautious optimism to anticipation of significant gains.

BTC forms descending broadening triangle pattern

Trader Tardigrade is optimistic about Bitcoin’s potential for massive growth, citing a Descending Broadening Triangle pattern on BTC’s chart. This pattern is formed by two lines connecting a sequence of lower highs and lower lows, typically appearing during a decline.

Tardigrade noted that Bitcoin is currently moving within this pattern following the recent market crash. He highlighted that this was the same pattern BTC followed in the 2019 and 2020 cycle, which triggered an over 700% increase in price from about $10,000 to $70,000 after a breakout from the pattern.

By aligning the current formation with the 2019-2020 pattern, the analyst might be anticipating a similar price reaction in this ongoing bull cycle. Should the crypto asset mirror this response, it could rise from the current price of $60,000 to about $420,000 by the end of this bull cycle.

BTC was trading at $60,943, showing a 6.36% 7-day rise. Its market cap was up 3.03% in the past 24 hours, while its trading volume was down 18.18%.

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