Bitcoin price is slowly gaining its dominance as the asset has been holding the lower support finely from the past few hours. The bulls appear to be well-positioned and hence the price may be on its way to reaching the immediate resistance just below $23,000. However, the volume has been bullish for the past week and hence a firm upswing could be imminent for the BTC price ahead.
The elevated price has assisted the global market cap to remain above $1 trillion while the 24-hour trading volume has also made a jump of 1.49%. At present, the BTC price seems to lead the crypto space to bounce out of the bearish trade set-up. Therefore, the upcoming quarter is expected to be pretty bullish, as the bears may remain off-shore for a while.
Therefore, the Bitcoin (BTC) price is expected to surge close to $60,000 in the next few months, as predicted by a popular analyst.
The analyst here highlights the asset repeating the previous pattern that may assist the BTC price to rise close to $60,000 in a couple of months. The price is trading forming a constant ABC wave pattern and is currently accomplished in reaching the final support that may induce a catapult action to rise high.
Considering the short-term, the Bitcoin price is presently at the last resistance before testing the range high at around $22,623.16. As the asset is trading within a rising parallel channel, the asset has marked a rebound after hitting the lows at $22,190 and heaving to test the local resistance at $22,938.12.
Besides, the RSI & MACD are closer to flashing a bullish signal soon that may assist the Bitcoin (BTC) price to sustain an ascending trend ahead.
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Source: https://coinpedia.org/bitcoin/bitcoin-btc-price-may-still-reach-60000-setting-up-a-notable-bull-rally-ahead-but-when/