RATE Group | Bitcoin Price Parabola Reaches 90 Degrees, Sizable Correction To Follow
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Bitcoin Price Parabola Reaches 90 Degrees, Sizable Correction To Follow

28 Jan Bitcoin Price Parabola Reaches 90 Degrees, Sizable Correction To Follow

Posted at 17:12h in Bitcoin News by

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As the phrase goes, “what goes up, must come down.” And this is even more true for anything that goes up a little too fast – something Bitcoin price is known for.

The cryptocurrency’s latest rally has now gone parabolic, and according to “the stick method” it has reached a 90-degree angle, potentially signaling a “sizable” correction in the days ahead.

Bitcoin Price Goes Full Parabolic at 90-Degrees

Bitcoin price set a local downtrend bottom at $6,400 and has since risen but over 40% to retest prices above $9,000.

The abrupt and powerful rally has restored bullish sentiment throughout the cryptocurrency market and has the crypto Fear and Greed index tipping the scales back toward levels of greed.

Related Reading | Legendary Trader: Current Crypto Rally Must Hold Or More Serious Correction Is Coming

The rally has caused Bitcoin price to once again go parabolic, albeit on smaller timeframes than the April 2019 rally or the 2017 bull run that put Bitcoin on the map in the…

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