History suggests that Bitcoin is currently in the early stages of the next Bull Run

After experiencing a significant influx of purchasing pressure, Bitcoin (BTC) has lost momentum once again, and is now nearing its $ 10,000 central psychological support level, which has proven to be a strong cryptocurrency support level in recent times

Despite this preliminary bearish price action, one analyst notes that history suggests that Bitcoin is currently in the early stages of the next massive bull run, which may mean that its current bearishness will eventually prove to be volatile.

Bitcoin drops to $ 10,000

At the time of writing, Bitcoin is trading at just over 1.5% to today's price of $ 10,020, marking a slight pullback from its 24-hour highs of over $ 1[ads1]0,200.

Bitcoin's inability to gain momentum when trading sideways in the lower $ 10,000 region appears to be spelling problems for cryptocurrency bulls, as it appears to be more likely to fall falls into the four-figure The price region of the time is imminent.

Previously, BTC has found significant support in the lower $ 9,000 region, and this is the price region that analysts will monitor closely in the near term.

UB, a crypto analyst on Twitter, talked about Bitcoin's current price action in a recent tweet, explaining that it expects it to fall lower in the coming days after facing a $ 10,450 rebate.

“$ BTC – Despite the strong Daily Candle, Bitcoin is still unable to close above Diagonal Resistance / $ 10,450. You can see many examples of the time map when significant wickets lead to nothing. Typically, the weights are "filled" and the price continues in that direction, "he noted.

$ BTC – Despite the strong Daily Candle, Bitcoin is still unable to close above Diagonal Resistance / $ 10,450.

You can see many examples of the hour chart when significant wakes lead to nothing.

Typically, the "wakes" are filled and the price continues in that direction. #BTC pic.twitter.com/yAKKxHYZZp

– UB (@CryptoUB) September 21, 2019

Will BTC soon reach the next parabolic phase? [19659004] Willy Woo, another popular cryptanalyst on Twitter, talked about the possibility of BTC is currently at the beginning of the next beef run in a recent tweet, pointing to a historical pattern that shows that BTC may soon see significant additional gains.

“Cheat chart of where we are in this beef market according to chain calculations. closes the opening of ok the semen market and waiting for the middle beef market to begin, "Woo said while pointing to the table below.

Cheat sheet chart of where we are in this beef market according to on-chain calculations. We end the opening act for the beef market and wait for the middle beef market to begin. pic.twitter.com/xkmY5i605G

– Willy Woo (@woonomic) September 21, 2019

The coming days and weeks may prove to be somewhat bearish for Bitcoin, but it is long-term thermal pricing can be enhanced by bullish fundamentals seen in the data-driven chart that Woo refers to above.

  Featured image from Shutterstock.