After surging more than 25% in less than 48 hours, the Bitcoin price is finally cooling down and getting ready to surge again!
In this Bitcoin analysis, I will be talking about this coming explosive move and how you can take advantage of it in the coming days. You can take advantage of these Bitcoin trade setups on Bybit. The platform is fantastic for both beginners and experienced traders.
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The Bitcoin price is currently trading sideways within a tight range. This range gives us important levels to watch for in order to correctly predict the next moves that might occur in the Bitcoin price.
These key price levels are $45,233 which serves as the base of the range and $48,192 price level which is the top of the range.
Bullish Price Scenario
For the bullish scenario, we need the Bitcoin price to respect the $45,233 support region. If this support holds, then there is a very high probability that we might see this current bullish momentum carry the Bitcoin price over the $48,192 price resistance.
A break and close above the $48,192 resistance could be a strong confirmation signal pointing to higher prices for Bitcoin in the coming days.
Bearish Price Scenario
There is also a very high probability that we might see a price sell-off from these highes. But for that to happen we must see the $45,233 support region give way.
This break of support could be a perfect confirmation signal, pointing to a bearish trend for Bitcoin for at least the short term.
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We also created a video below where we talked more in-depth about the patterns developing on the Ethereum chat as well as key fundamental factors that might affect the 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