Raoul Pal from Global Macro Investor recently said that Bitcoin is currently in “one of the best set ups in any asset class I’ve ever witnessed.”

According to Pal, BTC is trading inside a “perfect wedge” that is a precursor to a massive new bull run.

The first chart has BTC targeting $40k, but in the long run, Pal sees BTC hitting $1 million.

Bitcoin Porn and The Perfect Set Up… $BTC #BITCOIN

Chart 1 – The Perfect Wedge.

If you use classic charting techniques, it gives you a price target of around $40,000…but 1/2 pic.twitter.com/Q2pYRJtnIP

— Raoul Pal (@RaoulGMI) May 8, 2020

Chart 3 – The Perfect Regression Channel

That gives a 1 standard deviation move to $400,000 and a 2 standard potential to $1m (potential). pic.twitter.com/YV1SUOKWjn

— Raoul Pal (@RaoulGMI) May 8, 2020

Source: CryptoGazette.com
Reference: Twitter.com