Technical analysis by Adelaide-K1 about Symbol BTC: Buy recommendation (12/12/2024)

BITCOIN Keep it simple, it won’t go up anytime soon. This is actually a “keep it simple” analysis consisting of 4 charts, each showing a Bitcoin cycle since 2012. There’s no need to overcomplicate things, the charts are pretty much self-explanatory. According to all three previous cycles, BTC is in a bullish state supported by the 1-week MA50, which is just over the halfway point. It won’t top out anytime soon and could go above 200k, and even 300k if the very bullish scenario prevails.