Bitcoin’s Current Cycle Differs from 2017 Bull Run
- Tony “The Bull” Severino advises against comparing Bitcoin’s current cycle to its 2017 bull run.
- The stochastic oscillator indicates Bitcoin is in a different phase than in 2017.
- Bitcoin is consolidating between $81,000 and $84,500, with a current price of $83,693.
- The oscillator is at level 60, similar to the start of the 2018 bear market.
- Recent market volatility was influenced by proposed US tariffs causing fluctuations in major indices.
Technical analyst Tony Severino highlights that Bitcoin’s current cycle should not be compared to its historic 2017 bull run due to differing momentum indicators. The stochastic oscillator shows a trend distinct from the past peak period, suggesting potential bearish phases ahead.
Source (2.6)https://www.newsbtc.com/news/bitcoin/bitcoin-price-1-month-stochastic-expert-warns-investors-to-stop-comparing-btc-to-2017-moves/?rand=52377
