How A Hammer & The Golden Ratio Could Mean 6 More Months Of Bullish Bitcoin

Bitcoin price is attempting to get back above $40,000, and with that milestone out of the way, $50,000 and $60,000 next stand in the way between it and another new all-time high. Although things have taken a bearish turn over the last quarter, the next two quarters in Bitcoin could end up being the most profitable yet, if a recurring theme involving a hammer reversal and the golden ratio results in a similar conclusion. Here’s a closer look at the chart and what it could suggest happens from here across the crypto market. The Recurring Hammer Reversal With Golden Results Bitcoin is at a very unusual point it its market cycle. The bull run that everyone expected to take the leading cryptocurrency by market cap to prices well over $100,000 per coin has already potentially fizzled out. Or at least that is how it looks to most observers. Related Reading | Five Bullish Monthly Charts That Suggest BTC Will Blast Off By most standards, a 20% crash in equities would cause a “bear market” by definition. In crypto, the entire thing can collapse by more than 70% and still somehow be bullish. And that’s exactly what might have happened recently, as the Bitcoin price chart now depicts a recurring bullish signal that has provided “golden” results. If cycles are extending, there could be six more months of bull market | Source: BLX on TradingView.com Bitcoin Bull Market Could Extend Another 6 Mon...