Bitcoin Preparing for the 2024 Bull Run-This is Where it May Trigger a Massive Upswing

The post Bitcoin Preparing for the 2024 Bull Run-This is Where it May Trigger a Massive Upswing appeared first on Coinpedia Fintech News

The crypto space, after the recent price action, has been consolidating around the gained levels and appears to be poised to undergo a fine upswing soon. The Bitcoin price is trading in and out of $28,000 and appears to be holding acute bullish momentum at the moment. This may further ignite a notable upswing in the coming days, raising the price levels beyond $29,100 in the next few hours. 

According to a popular analyst, KALEO, the upward trajectory has just begun, and the price may continue to maintain a steady upswing. 

The BTC price was predicted to undergo a slight pullback before igniting a fine upswing ahead. However, the price quickly coiled up and rose modestly, breaking from the descending consolidation. According to the analyst, the BTC price is believed to maintain a massive upswing to reach levels beyond $29,000 in the next few hours. 

Besides, yet another indicator that the star crypto is preparing for a massive upswing is the newly formed CME gap. During the previous bull run in 2021, the BTC price formed a CME gap at $19,000, which remained unfilled. However, the price maintained a steep upswing later to mark a new ATH close to $69,000. Presently, the price has again formed a CME gap around the same levels and soared high without filling it. 

In 2020, the #BITCOIN CME futures left a gap at 19000$ and rallied to make an all time high in 2021

In 2023, a similar scenario has occurred. Will be Bitcoin make an ATH in 2024? pic.twitter.com/JgFAOwWEDO

— Mikybull Crypto (@MikybullCrypto) April 3, 2023

If the pattern repeats, the BTC price may rise significantly, igniting a fresh bull run to mark new highs. According to the analyst, Mikybull Crypto, the Bitcoin price may make a new ATH in 2024 as the price has repeated the previous pattern.