As Bitcoin continues to consolidate, cryptocurrency experts at Our Crypto Talk, in a bold prediction that caught the attention of the crypto community, highlighted that BTC is poised to make its next significant upward move. The analyst projection shows that BTC is preparing for a possible rally that could see its price rise to $92,500 during the month.
Bitcoin ready for a major rally
During the last day, the price of Bitcoin has shown positive strength and several analysts predict that it will surpass its current all-time high of $73,000 to set a new one. According to Our Crypto Talk, the largest crypto asset is ready for the next step, which the analyst sees as a path to a potential $92,500 this month.
This optimistic forecast comes against a backdrop of a return of good sentiment to the cryptocurrency market, reinforced by important technical indicators and favorable market conditions.
Looking at the current price action of BTC, the expert noted that the 3-day chart of the asset is still in an uptrend and has higher highs and higher lows. With lower price lows and lower relative strength index (RSI) lows, the coin is witnessing a large hidden bullish divergence, which is a bullish continuation trend.
Additionally, our Crypto Talk highlighted The sustained momentum of Bitcoin within the support range of $67,000 and $68,000 on the daily chart. If BTC breaks below the $67,000 support level, it could see a decline towards the $63,000 and $64,000 price levels. However, in the short term, the crypto asset remains neutral while waiting for the next big move.
Meanwhile, on the 4-hour chart, Bitcoin is showing a symmetrical triangle pattern, with rising support at around $67,200 and falling resistance at $69,100. As a result, the analyst predicts a breakout higher or lower in about a week.
Specifically, in the event of a break above the $69,100 resistance level, Our Crypto Talk has set its next target at $74,000while a break below the $67,200 resistance level could lead to $61,800. Considering all these trends, the expert is confident that this month’s market will be exciting.
Similar BTC prediction
Our Crypto Talk analysis matches recent insights from popular crypto expert Ali Martinez. The analyst also Underlines the formation of a symmetrical triangle on the BTC chart.
According to the analyst, it appears that the crypto asset is breaking out of the symmetrical triangle. As a result, BTC could reach the $74,400 price level if it maintains a close above the $69,330 resistance level.
At the time of writing, BTC the price was trading at around $69,066 and was up 2% with a market cap of over $1.3 trillion, up 2%. Additionally, its trading volume of $22.89 billion generated significant gains of over 104% in the past day.
Featured image from iStock, chart from Tradingview.com
