A giant repositioning since December 2017 is about to come to a close, claims Positive Crypto, leading to new price all-time highs.
Bitcoin (BTC) has spent almost 900 days correcting from its $20,000 all-time highs — but its trip to $100,000 is about to start.
That is the opinion of popular social media trader and analyst Positive Crypto, who on May 29 declared that the largest cryptocurrency’s 896-day climbdown would soon be over.
BTC price to break “consolidation structure”
According to an accompanying chart, the time since December 2017 has been “one massive accumulation phase,” during which investors repositioned themselves and bought in.
This “consolidation structure,” as Positive Crypto calls it, is now ripe for disintegration, to give way to a new bull run which will obliterate the $20,000 zone.
He wrote in comments:
The last 896 days were simply one massive re-accumulation phase before the run to 100k+ #bitcoin, and the consolidation structure will soon be broken.