Wall Street Legend Now Predicts ‘Parabolic Move’ To $56k For Bitcoin

After Bitcoin suddenly surged 11% on Wednesday, all heel seemed to break loose on crypto twitter. $25k was briefly touched.

We are not too euphoric just yet and therefore do not just read the screaming comments that discuss items like ‘to the moon’, ‘laser eyes’ and ‘$100k’.

According to us the story that the Wall Street Journal exclusively reported is also a good cause for Bitcoin’s surge of the past few sessions. The WSJ stated that Binance, the world’s largest crypto trading platform, had settled a lawsuit with the SEC by paying a fine. A slap on the wrist for Changpeng Zhao in other words and after which we can all continue as usual. Good news for Binance (and perhaps also for XRP?)

Parabolisch

We tend to stick to the more serious commenters. One of those is William Noble, former analyst of both Morgan Stanley and Goldman Sachs. He is usually mentioned in the same breath as Peter Brandt, another Wall Street legend. Noble has been focusing on crypto for several years now. He sees a very recognizable signal appearing in various crypto charts.

$BTC $ETH $ES $SPX

This whole crypto market is an exact replica of what S&P did off the lows in 2009. The expanding triangle in #Ethereum is potentially very bullish. I saw formations like this in SPX in 2009 when stocks rallied post-GFC. #WhatsOldisNewAgain pic.twitter.com/MZDsA3rzhs

— Bill Noble (@crypto_noble) February 16, 2023

Noble also predicted Bitcoin’s previous bull run in 2020 based on charts and thinks we’ve had a very interesting few months now as well.

Bitcoin may move from consolidation to another parabolic move back to $56,000.

Noble said

Good morning bulls

William also had good news for Ethereum.

The expanding triangle in ETH is potentially very bullish. I saw formations like this in 2009 and 2010 when stocks rallied post-global financial crisis.

Noble said

Vijay Ayyar, vice president of crypto exchange Luno is also convinced that the time for a new bullrun has started. He said there were:

Increasing signs that the market bottomed last November and has turned bullish. We are gaining in momentum here and any bad news is being shrugged off, typical signs that the market believes the worst is over.

Let’s hope all these guys are correct and we can start each new story with a ‘good morning bulls’ as from now.

Cryptokaleo leads the way.

GOOD MORNING BULLS
pic.twitter.com/rOzKK0zuOW

— K A L E O (@CryptoKaleo) February 15, 2023