Weekends usually forecast a diverse trend, but the past one failed to register any huge spikes. The bears still appear to hold a strong grip over the asset and hence the price may continue to consolidate. However, despite the shaky and uncertain environment, the BTC price is expected to hit levels much above $100k in the upcoming days.
April to Be A Scam Pump Month!
The BTC price fails to gain extreme bullish momentum and ends up forming yet another higher high and higher lows pattern. No doubt the asset is still within a bullish market, yet the surge amid these market structures the rally remains only for some time. And further, a huge plunge may bring back the asset to its initial position very quickly. Therefore, the possibility of BTC’s price hitting the yearly highs around $48,000 is quite possible, but the plunge ahead may drag the price below $38,000.
The analyst believes, the star crypto is still within the bullish market as it’s constantly forming higher highs and lows. Moreover, it is also maintaining the lower trend line that keeps the hopes of a strong uptrend alive. The analyst also specifies that the ranges between $37,000 and $48,000 may be considered a safe zone.
And that if the asset either slashes below $37K then, the analyst believes it’s the right time to sell. Or else if the BTC price ranges above $48K then it may further range to mid-$50K. And hence the analyst believes the current month trend maybe just another fake pump. Therefore April could be a Scam pump.
Perfect Bullish Reversal Pattern Well in Place!
While Bitcoin is pretty uncertain in recent times, the possibility of a massive reversal still makes its way out. The asset is currently forming a notable falling wedge pattern at the level of the support which may ignite a strong flip soon. The flip may initially uplift the price towards $50,000 and further, the higher levels may be tested and cleared. According to one of the popular analysts, the BTC price may hit $139.4K in December 2022.
The price in the higher time frame is trending within an ascending triangle and in an attempt to flip the lower support to range close to $65,000. And after consolidation in between $58,000 and $74,000, Bitcoin may finally ignite a bull run towards the levels beyond $100K to hit $139.4K by the end of 2022, as predicted by the analyst.
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Source: https://coinpedia.org/bitcoin/bitcoin-btc-price-to-hit-140k-by-the-end-of-2022/