As bitcoin continues to consolidate, cryptocurrency experts at Our crypto Talk, in a bold forecast that has caught the attention of the crypto community, noted that btc is about to make its next significant upward move. the analyst x.com/ourcryptotalk/status/1797155947800092774″ target=”_blank” rel=”noopener nofollow”>projection shows that btc is preparing for a possible rally that could see its price rise as high as $92,500 within the month.
bitcoin poised for a big rally
During the last day, the price of bitcoin has been demonstrating positive strength and several analysts predict that it will surpass its current all-time high of $73,000 to establish a new one. According to Our crypto Talk, the largest crypto asset is primed for the next leg up, which the analyst sees as a path to a potential $92,500 this month.
This optimistic forecast is made amid a good return of sentiment in the cryptocurrency market, which is reinforced by important technical indicators and favorable market conditions.
Delving deeper into the current btc price action, the expert noted that the asset's 3-day chart is still in an uptrend and is recording highs and lows. With higher price lows and lower Relative Strength Index (RSI) lows, the coin is witnessing a large hidden bullish divergence, which is a bullish continuation pattern.
Furthermore, our crypto Talk has highlighted bitcoin's Sustained Momentum within the support range of $67,000 and $68,000 on the daily chart. If btc falls below the $67,000 support level, it could witness a decline towards the $63,000 and $64,000 price levels. However, in the short term, the crypto asset remains neutral as it waits for the next big move.
Meanwhile, on the 4-hour chart, bitcoin is showing a symmetrical triangle pattern, with increasing support around $67,200 and decreasing resistance at $69,100. As a result, the analyst anticipates a breakout to the upside or downside in about a week.
Specifically, if there were to be a break above the $69,100 resistance level, Our crypto Talk has placed its next target at $74,000while a break below the $67,200 resistance level could lead to $61,800. Taking all these patterns into account, the expert is confident that this month's market will be exciting.
Similar btc Forecast
Our crypto Talk analysis corresponds with recent insights from popular crypto expert Ali Martinez. The analyst also x.com/ali_charts/status/1797549291944444392″ target=”_blank” rel=”noopener nofollow”>highlighted the formation of a symmetrical triangle on the btc chart.
According to the analyst, it seems that the crypto asset is leaving 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 rose 2% with the market cap of over $1.3 trillion, up 2%. Furthermore, its trading volume of $22.89 billion has attracted significant gains of over 104% in the past day.
Featured image from iStock, chart from Tradingview.com
