Macro guru and former Goldman Sachs chief Raoul Pal said Bitcoin has created a pattern that could herald a big rally.
The CEO of Real Vision informs his 652,000 subscribers that Bitcoin is forming a huge downward divide, reminiscent of the pattern that took shape from 2017 to 2020. When BTC came out of technical training, it surpassed its all-time high of 64,000 dollars.
“Bitcoin’s long-term chart looks pretty appealing. The ditch may crack on the first try, but a consolidation pattern of this magnitude usually results in a very strong bullish move. ”
Based on Pal’s chart, the macro-investing expert suggests Bitcoin would be out of reach somewhere from now until early next year.
Pal also sees a gap forming on the Bitcoin Ethereum (ETH / BTC) pair. According to the macro guru, ETH / BTC could break out of its resistance at the top of the ditch and trigger a 100% rally from current levels.
“The charts are excellent, and the ETH / BTC cross has shown magnificent consolidation, and if the gap cracks, it should almost double.”
ETH / BTC investor prediction matches previous calls for Ethereum to be one of the best stakes in all financial markets. According to Pal, the coming months should be “funny” for the cryptocurrency markets, which include significant increases in ETH / BTC.
“My thesis is based on the fact that the months of October, November and December are funny. I use a lot of graphics for this. I’m starting to look at other protocols and tokens that work compared to Ethereum and Bitcoin because we should see the risk curve rise further. So, we should see the intersection of Ethereum and Bitcoin in the future. I think it turned out almost 0.08 BTC. It fell back… 0.07 BTC. I think when it goes through 0.08 BTC, that will be a signal for the next stage of this whole crypto market, which is usually the reward stage. ”