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Bitcoin Price Rally Going Parabolic Again, New ATH on the Cards?

Highlights

    Bitcoin price rally accelerated and smashed the levels above $54000 is a very short span of time

    With the intensified bull run, a new ATH by the end of the week is looked upon in the entire crypto space

March to Be Super Bullish for Bitcoin Price Rally

Bitcoin price in recent times experienced a major slump that declined the price close to $43K levels. Moreover, the bounce back halted multiple times at $50,000, probably indicating a strong consolidation. 

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Conversely, the BTC price rally which was stuck up within a narrow range, geared up immensely. Since the previous trading hours, the price initiated a rally and continued till press time. The price is rallying parabolic yet again by flipping the resistance levels at $52K into support as said by an analyst Rekt Capital.

The analysts also predict that the bull run may also rally the price hard close to $58,000 highs very soon. And as said by another analyst, The Moon, Bitcoin price may smash $60,000 in the forthcoming days.

BTC Price Elliptical Flow

The BTC price maintains a narrow trend after a slight push and hence consolidated for a while before a major push towards the current levels around $54K. The price has flowed an elliptical pattern yet again.

btc price chart

Previously, when the BTC price underwent a parabolic move, the price rose from $41K to the all-time high of around $58K including a couple of slumps dragging the price below $30,000. Therefore, if the same pattern is considered, then the bitcoin price may smash levels above $60,000. 

Currently holding strong at the current levels and an uptrend towards the $55,000 is the need of the hour. And hence the bitcoin price rally may have a decent jump towards the ATH or even more can be expected in the coming days.

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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