Massive BTC Price Move Imminent: Bullish Upswing on the Cards?

Summary of Article

  • Bitcoin Price Drop: Bitcoin price has dropped below $22,000, flashing massive bearish signals impending in the next few hours.
  • Possibility of Bullish Divergence: Despite the bearish signals, some possibility of a bullish divergence continues to flash.
  • Technical Indicators Pointing Towards Bullish Breakout: A couple of technical indicators are also pointing towards a bullish breakout and suggest that the price is at the tip of a massive explosion.

Bitcoin Price Drop Below 22K

The bitcoin price, after consolidating within a very narrow range for a few days, plunged below the crucial support level of $22,000. The bearish volume has accumulated heavily, which may keep the rally within the consolidation range for an extended period. Hence, the price is believed to test the lower support below $21,500 in the coming days, which may attract huge liquidity to the platform.

Possibility Of Bullish Divergence

In spite of prevailing bearish clouds over BTC’s price rally and its drop below $22K mark with heavy accumulation of bearish volume – some possibility of a bullish divergence still continues to flash. It is believed that before this quarter comes to an end – it will display massive price action causing more than 20%-25% upswing leading to reversal in trend thus sparking off fine upsurge.

Apart from this possibility mentioned above, various technical indicators have been pointing towards a possible bullish breakout and are suggesting that BTC is at verge of massive eruption. Trading view suggests that crypto space has pushed panic button as BTC dropped below 22k but longer time frame indicates different action suggesting possible surprise upsurge before month ends. Stochastic RSI in higher time frame is flashing buy signal indicating potential leap in prices in coming days as StochRSI levels have crossed bull after holding their trend within oversold levels throughout 2022 and having slight surge recently recording more than 50% jump since beginning year crossing 150%, even 250% previously during similar rallies.

Conclusion

Henceforth with increased probabilities due to such technical indicators aligning with bullish breakout – BTC could actually be on verge for massive eruption anytime soon before this quarter ends thus forming fine upswing replete with possibilities for trend reversal .