Experienced Analyst's 2020 Emphasis for Bitcoin: "The Pattern Has Moved!"

Veteran crypto analyst David has made a fresh prediction on the outlook for the price of Bitcoin as it approaches a tough technical resistance.

Only the "2020-type run" from the same IH&S neckline could protect BTC from a correction of 30 to 40%. If Bitcoin can surpass the 52,000 level, things will get better... That 2020 likeness translates to $130,000 by March.

According to the analyst, the BTC price is correctly following the "inverted head and shoulders" bottom pattern it has shown so far. However, with BTC reaching the challenging zone between $46,700 and $52,000, there are also doubts about its potential to continue without a rapid rise soon.

As Koinfinans.com reported, the analyst believes that a parabolic, V-shaped rally, reminiscent of Bitcoin's pre-halving period in 2020, could prevent an impending 30-40% correction at this stage after +100% gains from the lows.

According to David's analysis, a breakout from the $52,000 resistance could indicate that an ambitious BTC target of $130,000 by March is possible. This is a fitting culmination for those anticipating crypto ETF approval, marking a buying paradigm shift rather than a selling event in this cycle.

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