• Bitcoin price is displaying possibilities of a bullish breakout as the long term charts indicate the test of the bear cycle bottoms.
• The crypto markets have been considerably bullish since the beginning of the year, with Bitcoin price surging notably high.
• A popular analyst has predicted the 2021 crypto collapse, expecting Bitcoin price to reach $100K.
Bitcoin, the world’s leading cryptocurrency, has been in a volatile state since the beginning of the year. After a minor consolidation, the Bitcoin price surged notably high and soon fell into the consolidation phase but remained under the bullish influence. Now the BTC price appears to be on the brink of a bullish break out as the long term charts indicate the test of the bottoms of the bear cycle and a significant upswing is imminent.
The crypto markets have been considerably bullish since the beginning of the year as the Bitcoin price surged notably high. After the initial surge, the price fell into the consolidation phase but remained under the bullish influence. The price is now preparing for a bullish upswing as top indicators point towards a breakout that may happen any time from now.
The BTC price is currently facing slight difficulty in rising above the levels as the bullish volume lags a little. Therefore, the price may consolidate for a while before marking a notable upswing toward the interim resistance. Besides, if the price witnesses a minor pullback, then it may get rejected and drop down towards the lower support of the pennant. Further, a rebound may ignite a breakout that may keep up the price elevated toward the resistance.
In addition, a popular analyst who has predicted the 2021 crypto collapse believes that the star cryptocurrency will reach $100K. The analyst has pointed out the potential of Bitcoin to break the resistance and reach the new all-time high. According to the analyst, if the current trend continues, the Bitcoin price will reach $100K in the next couple of years.
Overall, the Bitcoin price appears to be on the brink of a bullish break out. With the fresh upswing, the BTC price has rebounded from the lower support of the triangle and is heading towards the resistance. If the price continues to increase, then it may soon reach the all-time high of $100K. It remains to be seen how Bitcoin performs in the coming days.