The Bitcoin price is showcasing extreme low volatility since the early trading hours with a reduced trading volume. The prices are rising despite a drop in the volume which is not good for the healthy rally. As the sellers may suddenly jump in to drag the price towards the south as buyers are currently not is a strong position.
Therefore despite the chances of a plunge are haunting the rally, yet the prices are expected to be pretty on track.
The rally is gaining strength day by day as at every dip new hands are entering in while the existing hands are becoming more stronger.
And hence following the similar plot Bitcoin is speculated to undergo yet another wave to hit the highs.
Moreover, following a strong rally, the altcoins are also assumed to ignite a strong Altseason which may assist the price to hover close to its ATH in the upcoming days.
The analyst believes the Bitcoin price rally is perfectly on schedule and may not get deviated by the current market trends. The analyst compared the bull cycles of 2012, 2016 to speculate the next move in the 2022 bull rally.
Bitcoin is mirroring the previous rallies where-in after the 2nd wave impulse the asset forms a notable consolidation at the lower levels. Further it ranges a little high and yet again consolidates.
Eventually, after plunging down and consolidating a little, the BTC price goes parabolic to hit the highest levels. This is when the Alt-season gears up as most of the altcoins wake up out of their consolidation.
Interesting thing is each time during consolidation, the volume is at the lower end which intensifies with a notable jump.
Therefore if the Bitcoin price replicates the previous trend, then the price may form a new ATH somewhere in Q3 or Q4 of 2022.
The post appeared first on Coinpedia
