Analyst EᴛʜᴇʀNᴀꜱʏḏɴᴀL believes that the next huge bull phase, which Bitcoin aficionados are anticipating, may not be far off. The analyst offered insights in a tweet, indicating that this expected bull run will start in Q4 2024.
Furthermore, he believes that the major corrections of Bitcoin are past and will open the path for a positive trend till early 2025. Historically, the price swings of Bitcoin have been cyclical, alternately between bear and bull markets.
Moreover, a chart by EᴛʜᴇʀNᴀꜱʏᴏɴᴀL provides a visual representation of these cycles. It highlights distinct phases characterized by periods of price decline (bear seasons) followed by consolidation, and eventually, a transition to a bull run.
The recurring trend of bear markets, represented by red, downward-sloping triangles, indicates major corrections and lower price levels before finding support.
Each bear market phase precedes a “Bull Run Start,” marked in green, signaling a shift towards upward momentum. Historically, these transitions have set the stage for price rallies, as seen during the bull phases in 2017 and 2021.
What you'll learn 👉
Support, Resistance, and Current Market Position
Support and resistance levels play a crucial role in understanding Bitcoin’s price behavior. According to the chart, Bitcoin’s support zones lie at the base of each bear market, where prices tend to stabilize before an upward trend begins.
Resistance levels are marked at the top of the triangles, which Bitcoin has historically breached during bull runs, leading to sharp price increases.
As of Q4 2024, Bitcoin appears to be approaching the end of its consolidation phase. The chart identifies this period as the beginning of a new bull cycle, hinting at a potential mega bull run similar to previous cycles.
EᴛʜᴇʀNᴀꜱʏᴏɴᴀL’s analysis suggests that Bitcoin may soon break past its current resistance, leading to an extended rally.
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Expert’s Insights
Emphasizing that Q4 2024 will mark the beginning of Bitcoin’s mega bull season, the tweet from EᴛʜᴀNG reflects the analysis of the chart. The analyst noted that a continuous upward trend is anticipated to be facilitated by the corrections observed in recent months being probably gone.
The tweet also suggested higher market activity in Q1 2025, speculating that as Bitcoin picks momentum, movements would get more solid.
EᴛʜᴆᴀL’s projection fits past trends and indicates a strong and maybe explosive market trend. Previous bull runs—especially those in 2017 and 2021—followed similar market behavior, therefore reinforcing the assertion that Bitcoin is about to undergo yet another major upturn.
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