U.Today – Cryptocurrency analysts have predicted a massive breakout for (BTC) in the near future. It looks like the murky clouds of bearish trends have cleared and the largest cryptocurrency by market capitalization has a vivid future ahead of it. The current price fluctuations of Bitcoin also suggest this potential bull run.
According to crypto trader and analyst Ali Martinez, the BTC bull and bear market indicator has been moving between bearish and bullish ranges since early August. However, sentiment seems to have changed. Martinez mentioned that this key indicator has turned bullish again, predicting a massive escalate in the price of Bitcoin.
A well-known analyst has shared a chart of a key Bitcoin indicator. It clearly shows that the indicator has turned bullish after an extended period of oscillating around both extremes. The chart shows that Bitcoin enters a bull run when this happens. This has been seen in history, hence the high probability of another BTC bull run.
Will Bitcoin reach another all-time high?
Interestingly, another prominent analyst predicted a massive breakout in Bitcoin price. Cryptocurrency analyst Jelle tweeted that Bitcoin’s bullish bull market is still targeting the $180,000 level, even after a six-month consolidation phase. Jelle mentioned that he believes BTC price will approach this exponential target.
Meanwhile, the price of Bitcoin has started to support this bullish outlook. BTC is currently trading at $60,815, down a petite 0.66% in the last 24 hours. BTC had been facing mighty resistance at $60,000 in the recent past. However, it has now managed to successfully break through this level.
It looks like BTC is now trying to turn this range into a support zone. After successfully achieving this goal, it will likely target the next resistance at $63,000. Signals from these metrics also support this price outlook and a clear uptrend is likely to be noticeable for Bitcoin.
