The crypto rally continued today as the Bitcoin price broke through the $48, 052 key level on the 15 minutes timeframe. This level is very important for the Bitcoin bulls and we talked about it in our previous analysis Bitcoin Bullish Prediction Playing Out AS Predicted. What Next?
That bullish prediction has played out, with the Bitcoin price finally breaking through that key level, but what next?
In this Bitcoin analysis, we will be talking about our bullish prediction for Bitcoin as well as the key levels we are currently watching right now!
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Could History Repeat? Watch This Level
The last time Bitcoin broke through this $48,052 key level, we saw the price bounce and then rally higher to new ATHs. This price action might repeat again soon.
If Bitcoin can continue to trade above this key level on the 15 minutes timeframe, we might expect to see the Bitcoin price bounce again and rally soon!
This coming rally has a very high probability of pushing Bitcoin back to the previous ATH. Making this key level very important for the Bitcoin bulls to hold in the coming days.
Final Verdict!
We are very bullish on the Bitcoin price and believe there is a very high probability for us to see the crypto rally continue in the coming days. But for this bullish rally to play out, the Bitcoin price needs to hold the $42k key support on the 15 minutes timeframe.
If this level holds, we might see the Bitcoin bullish rally play as it did before. However, a break of this key level ends this current bullish rally and indicates a very high liklyhood of a price crash.
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