Bitcoin price is displaying a diverse price action in the past few weeks wherein the uncertainty around the token appears to have risen heavily. The sudden increase in volatility has led the price to drop or surge by a double-digit margin. In doing so, the star crypto has approached some crucial levels which may decide the trend for the coming days.
The BTC price had undergone a massive price action in an inverse way and dropped below $20,000. However, the weekend surge enabled the price to register a massive 20% growth in just 3 days which is expected to prevail for a long. The price, presently, appears to have approached a critical juncture, where-in a breakout is mandatory to keep up the momentum of the rally high.
As mentioned in the above chart, the BTC price is approaching the crucial $25,000 resistance zone which is currently considered very important. A decisive breakout from these levels may trigger a massive price action which may enable a price rise of more than 40% as predicted by one of the popular analysts, Captain Faibik.
However, the traditional financial markets appear to have begun to settle as the US authorities have assured the safety of the depositor’s funds in the bank. Therefore, a slight pullback in the Bitcoin BTC) price may be expected as the investor’s FUD in the banks may ease a little. Nevertheless, it may certainly not impact the star crypto as the bulls are determined to uplift the price and trigger a significant rally ahead.
Source: https://coinpedia.org/price-analysis/bitcoin-in-crossroads-btc-price-may-rise-more-than-40-to-50-in-the-coming-weeks/