Time is running out for Bitcoin’s parabolic rally, warns analyst

Bitcoin’s (BTC) ability to mount a parabolic rally may be fading based on its technical indicators, according to a trading expert.   In this line, analysis by TradingShot suggests that another major rally could be limited by Bitcoin’s position within a well-defined long-term uptrend that has yet to produce the kind of rallies seen in the past cycles.   In a TradingView post on July 9, the analyst noted that since bottoming in November 2022, Bitcoin has traded within an upward channel that closely aligns with a Fibonacci channel guiding price movements since 2013. Bitcoin price analysis chart source: https://finbold.com/time-is-running-out-for-bitcoins-parabolic-rally-warns-analyst/