Cappelleri Sees Bullish Formation in Bitcoin Chart
Technical analyst Frank Cappelleri has identified a potential bullish formation in Bitcoin's chart, likening it to the setup that preceded the 400% rally in the previous cycle.
The current pattern shows a 54% drop this cycle compared to 70% in 2022-2023, but Cappelleri sees a similar base that could lead to new all-time highs.
BIT Research places the True Market Mean at $76,900 and projects a bullish scenario of between $185,000 and $215,000 for BTC.