Bitcoin (BTC) has just closed its monthly candle, touting an impressive 63% gain. This is crazy, especially considering that just a few months ago, cryptocurrency bulls were nowhere to be seen, wallowing in a bear market-induced depression. Now, however, bulls are dominating the market with an iron fist. This has led one analyst, Roger Quantrillo, to make some surprisingly optimistic predictions.
The trader recently suggested that due to the fact that Bitcoin closed its monthly candle above $8,300, he would be inclined to suggest that BTC could soon go “straight to $14k/$15k or more in the next one to two months”. This would represent another 60% move if it occurs. The reason why Quantrillo thinks this is a case is likely to do with Bitcoin’s previous cycle, and how BTC reacted to the pitchfork pattern (seen below).