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Home Crypto News Analysis Two Possible Scenarios When Bitcoin Is Very Close To New All-Time Highs

Two Possible Scenarios When Bitcoin Is Very Close To New All-Time Highs

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Bitcoin price is approaching its all-time high (ATH); volatility is increasing. What are the possible scenarios for BTC?

Bitcoin price is in an increasingly steep uptrend and is very close to its historical records.

There are two possible cases here in term of Bitcoin Price.

Specialists think that now is the time to buy Bitcoin.

The, Bitcoin’s price has reached a technical price range $ 17,000 / $ 20,000, in a crypto market where BTC’s dominance is still large. Trading volume remains significant, and the growth momentum is expediting.

Analyst believe the market has reached a risky area, volatility will rise, and the market may consolidate very soon, which would be beneficial for an underlying uptrend.

Bitcoin is clearly on a strong push to its all-time highs of $ 19,600.

There are two possible market cases: the first is an immediate bullish technical breakout, without pause, i.e., maintaining the current momentum above $ 20K.

The second is a deep correction, logical profit-taking after two months of sharp growth before the price increase resumes. Analyst watch out for any bearish divergence that appears to be reigning. Currently, they are not. Be careful because the first tangible mid-term support is at $ 13,900.

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Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown has obtained his master's degree in Stock Trading And Investing. His specialty is analyzing the price actions of crypto and stock markets. Albert provides a major role in TheCryptoBasic as a crypto analyst. He is also known for his work on Twinkle Magazine and TipRanks.

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