This “Launchpad” Could Send Bitcoin on a Massive Parabolic Rally - newsBTC

Further adding to this notion is the fact Bitcoin is currently sitting on a key technical level that could act as a “launching pad” for its near-term price action, potentially catalyzing the next major rally. In the near-term, the key resistance levels that analysts are keen on seeing BTC react to exist at $9,000 and $9,200, which is around the cryptocurrency’s local highs that were set last week.

One factor that should be considered in the near-term is the fact that Bitcoin’s monthly Bollinger Band is currently serving as a “launching pad” for the crypto – as noted by Polar Hunt, a crypto analyst on Twitter. As for what this so-called launchpad means for Bitcoin, Dave the Wave – another popular crypto analyst on Twitter – explained in a tweet that BTC’s MACD signals that the cryptocurrency is about to enter a firm bull market.

Timeline of Bitcoin