• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

Bitcoin Price Chart: Technical Indicator Gives 5th Ever Parabolic Signal

Tony Spilotro by Tony Spilotro
2 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 3min read
Bitcoin Price Chart: Technical Indicator Gives 5th Ever Parabolic Signal
Advertisement
Listen to Article

While Bitcoin price is struggling with overhead resistance at the moment and taking a much needed breather from its bullish rally that began in early April with a $1,000 green candle, the cryptocurrency may have a lot more parabolic momentum left, according to one specific technical indicator.

The technical indicator in question has just given its fifth ever “parabolic” signal on the daily, with the previous four times resulting in massive, sustained price increases in the leading cryptocurrency by market cap. Should the indicator be correct, another powerful parabolic run might just be days away.

Top Goon X Indicator Signals Bitcoin Price to Go Parabolic Once Again

Bitcoin has a strong penchant for going parabolic once the emerging financial asset starts to pick up bullish momentum. Due to how scare the asset is, FOMO, and the speculation fueling violent volatility, Bitcoin price can rise and fall rapidly without ever taking a pause.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

These unique conditions help Bitcoin price to skyrocket, as was seen in December 2017 when Bitcoin hit its all-time high price of $20,000 before the bubble popped and a bear market followed.

Related Reading | Analyst: Bitcoin Price Rally Targets Between $12K and $22K Based on BitMEX History

Prior to that highly-publicized parabolic rise, a technical indicator called the Top Goon X had given its fourth “parabolic” daily signal. Before that, the indicator signaled three parabolic spikes between 2012 and the height of the 2013 Bitcoin bubble.

The indicator thus far has been correct four out of four times, and the arrows indicated on the chart clearly demonstrate that the signal preceded a massive parabolic rise, taking the price of Bitcoin significantly higher in a short period of time. In fact, each time it occurred, Bitcoin set a new all-time high in the weeks following.

According to the creator of the technical indicator, the Top Goon X, TradingView author NebraskaGooner says that the tool just gave its fifth ever daily “parabolic” signal.

#Bitcoin

Top Goon X has only ever given the "Parabolic" daily signal 5 times.

Those 5 times are marked with an arrow on this chart. pic.twitter.com/8CQKgmgcK2

— NebraskanGooner? (@nebraskangooner) May 19, 2019

Since the start of April, the asset has already gone parabolic, rising from $4,200 to over $8,000 in less than 40 days. But the signal triggered only after the initial parabolic spike, suggesting that Bitcoin price has a lot further to climb in 2019.

Bitcoin’s ability to go parabolic is both a blessing and a curse for crypto investors, as such a sharp and powerful rise can bring investors gains unheard of in most financial markets, but when that parabola breaks, Bitcoin and other cryptocurrencies typically fall 80% or more.

Related Reading | Why The Next Bitcoin Bull Run Could Eclipse The Last Crypto Bubble

The emerging asset class, despite its short history, is extremely cyclical in nature, with the most recent bear cycle starting to flip bullish now that Bitcoin reached its bear market bottom and reversed, painting a golden cross, and reviving interest across the market.

Featured image from Shutterstock
Tags: bitcoinbitcoin pricecryptoNebraskanGoonertechnical indicator
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

Related Posts

defi

11 DeFi Projects Rumored to Be Airdropping Tokens

9 hours ago
Nimbus: The Next Big Thing in DeFi

Nimbus: The Next Big Thing in DeFi

10 hours ago
ILCOIN

Age of ILCOIN: A Revolution in The Merger of VR With Blockchain-Based Gaming

11 hours ago
Bitcoin Heads Towards $35,000 as Biden Stimulus Hurts US Dollar

Bitcoin Heads Towards $35,000 as Biden Stimulus Hurts US Dollar

14 hours ago
ACDX

ACDX Introduces the World’s First Crypto Structured Product – A Hybrid of Perpetual Futures & Options

15 hours ago
MicroStrategy Boss: No-One Can Take Your Bitcoin, Not Even The Taxman

MicroStrategy Boss: No-One Can Take Your Bitcoin, Not Even The Taxman

15 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

There’s a New Bitcoin Wallet on the Line – Cryonik.io

January 25, 2021

Join PEAKDEFI – a Safer Way to Grow your Wealth

January 25, 2021

Cryptowisser Releases Report on Exchanges With Lowest Fees

January 22, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.