The crypto market upswing slowed down as the bears are trying very hard to regain their dominance over the rally. For a short period, the Bitcoin price had plunged below $21,000 as the bulls were slightly drained after rising the price levels from $16,500 to as high as $21,500 in just 10 days. The upcoming trend is believed to be extremely bullish as the star crypto is flashing a huge ‘buy signal’.
The Bitcoin price after 10 straight bullish daily candles, has been facing bearish interference oflet. The ongoing consolidation is believed to prevail for some more time until the bears drain their strength, beyond which a notable upswing could be pre-programmed.
A well-known analyst, Titan of Crypto, says to his 22.5K followers that BTC is on the foothill of a massive explosion and hence may reach $60,000 during the H1 2023.
The analyst here refers to the super trend of 2018-19 to that of 2022-23 as the bearish divergence was almost similar in both cases and believes the BTC price is due for a massive upswing. Previously when the super trend flashed a ‘buy’ signal, the BTC price soared high by more than 239% to mark the 2018 highs close to $19,000. If a similar upswing is replicated, then the BTC price is believed to rebound and reach levels around $60,000 in the next few months.
Besides, the Bitcoin(BTC) price is believed to reach $25,000 to $30,000 in the next 45 days as predicted by another analyst, Ben Armstrong. However, analysts also say that the prices may continue to trade under these braces most of the year which may include a couple of extreme actions.
Source: https://coinpedia.org/price-analysis/this-is-why-bitcoin-price-is-up-today-btc-flashing-bullish-signals-may-reach-25000-this-week/