Is Bitcoin Price Ready to Explode?
The Bitcoin price rally is the most viewed event in the entire crypto space. The price had exploded magnificently in recent times by smashing the levels above $60K. However, a major correction pulled the BTC price below $53,500. Many speculated the bull run might have been halted, yet the price rose above the levels yet again.
Currently, the price is sitting at the most pivotal regions, where-in the possibility of a major breakout is fast approaching. According to a popular analyst, MMCrypto, Bitcoin breakout is imminent in the next 8 hours.
The reason for such an accurate prediction is only for the reason that the BTC price rally is about to make a move by breaking the barriers at the upper resistance levels of the ascending triangle.
What Levels Will The Rally Discover?
As reported by Coinpedia earlier that, the Bitcoin price rally is strongly heading towards the target set at $72K, it appears the price movements are on the right path. Currently, the price is very close to revisit the levels at $60,000.
Since the Bitcoin bull run has been accelerated, the price went parabolic and dumped a little indicating a slight correction. The price spike notably after each pullback, and hence if a similar trend continues, the price may smash levels close to $65K.
At the time of writing, the Bitcoin price is $59,343 with a jump of 1.04% in the last couple of hours. The resistance levels lie at the ATH above $61,000 and the support levels are at $58,150. The indicators point out a buy signal.