The Bitcoin price is up more than 25% since our last analysis Bitcoin Surging Right Now! Watch Out For These Levels. We can see the Bitcoin price following our exact prediction and creating a new ATH at $48k in less than 48 hours.
This price surge is a clear indication that the crypto bulls are back in full control of the Bitcoin price. But the biggest question traders are asking now is:
For how long can the bulls sustain this upward momentum?
In this Bitcoin analysis, we will be talking about this bullish momentum as well as pointing out what you should expect in the coming days for Bitcoin.
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Expect Massive Volatility
The Bitcoin price has just broken its record and entered into a price territory it has never traded before. The low volumes at this new height could lead to massive volatility in the Bitcoin price in the coming days.
This is actually good for Bitcoin because the Bitcoin price has also performed the most during times of high volatility. However, there is an important level Bitcoin bull must hold for this momentum to continue.
The $40k Critical Support
For the crypto bulls to remain in control of this market, the Bitcoin price must remain above the $40k support region.
The $40k price level was the previous ATH resistance now turned support. A break below this support region could see Bitcoin losing steam and selling off in the nearest future.
However, if Bitcoin manages to test and successfully hold this support, this will open the way for a Bitcoin surge to the $50k, $60k, or even $100k regions in the coming days.
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We also created a video below where we talked more in-depth about the patterns developing on the Bitcoin and Ethereum chat as well as key fundamental factors that might affect the Bitcoin price in the coming days.
To gain more information on how to partake in this coming Bitcoin Bull run and trade this cryptocurrency, you can read my How To Trade Bitcoin Guide. You can also check my top list of Best Bitcoin Exchanges To Trade With