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

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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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Source: https://coinpedia.org/bitcoin/bitcoin-price-rally-going-parabolic/

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