Bitcoin price has shown some bullish momentum in the past few days and ranged beyond $17,000. Despite the bearish cartel intensifying its strength, the BTC price continues to sustain close to the levels and is closer to undergoing a massive breakout soon. A popular crypto analyst, who has predicted the 2021 crash in the past, now believes that Bitcoin is due for a significant upswing that may begin any time from now.
The anonymous analyst Dave the Wave believes that Bitcoin looks to be self-assured to surpass the interim horizontal resistance of an ascending triangle.
The BTC price is currently trading around $16,967 while facing a slight rejection from the horizontal resistance. However, with a notable rebound, the price is expected to reach the peak of the consolidation, which may begin a significant upswing in the coming days.
“BTC Xmas rally on the cards…”
Pointing out a higher timeframe, Dave the Wave says that the star crypto is offering an optimal opportunity for long-term bulls, which is based on the logarithmic growth curve (LGC) model.
“Looked at soberly, without the previous great expectation…and without the aftermath of great disappointment, current prices are both Bitcoin normal and optimal for those interested in risk and reward,”
This model is used by the analyst to predict the current cycle highs and lows of Bitcoin amidst the changing macroeconomic conditions. The analyst has been signalling the buy zone of the model regardless of the extreme bearish market sentiments within the participants.
Source: https://coinpedia.org/price-analysis/crypto-winter-may-end-soon-will-the-christmas-bells-rise-the-bitcoinbtc-price/