As Bitcoin continues to consolidate, cryptocurrency experts at Our Crypto Talk, in a bold prediction that caught the attention of the cryptocurrency community, indicated that BTC is on the verge of another significant upward move. Analytics performance shows that BTC is preparing for a possible rally that could push its price to $92,500 within a month.
Bitcoin ready for a massive rally
Over the last day the price Bitcoin is showing positive strength and several analysts predict it will surpass its current all-time high of $73,000 to set a modern one. According to Our Crypto Talk, the largest crypto asset is poised for another rally, which the analyst sees as a path to a potential high of $92,500 this month.
This confident forecast was made amid the return of positive sentiment in the cryptocurrency market, boosted by significant technical indicators and favorable market conditions.
Digging deeper into BTC’s current price action, the expert noted that the asset’s 3-day chart is still in an uptrend and is seeing higher and higher highs and lows. With higher price lows and lower lows of the Relative Strength Index (RSI), the coin is witnessing a gigantic hidden bullish divergence, which is a bullish continuation pattern.
Moreover, this was highlighted in Our Crypto Talk Bitcoin’s continued momentum in the $67,000 to $68,000 support range on the daily chart. If BTC falls below the $67,000 support level, there could be a decline towards the $63,000 and $64,000 price levels. However, in the brief term, the crypto asset is still neutral and waiting for the next massive 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 in the positive or negative territory in about a week.
Specifically, if a breakout above the $69,100 resistance level occurs, Our Crypto Talk has set its next target at $74,000while a break below the resistance level at $67,200 could lead to $61,800. Considering all these patterns, the expert is confident that the market will be thrilling this month.
Similar BTC prediction
Our Crypto Talk analysis corresponds to the latest insights from popular crypto expert Ali Martinez. Analyst too highlighted creating a symmetrical triangle on the BTC chart.
According to the analyst, crypto assets appear to be emerging from a 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 at around $69,066 and up 2%, with a market cap of over $1.3 trillion up 2%. Moreover, the trading volume of $22.89 billion attracted a significant boost of over 104% in the last day.
Featured image from iStock, chart from Tradingview.com
