The crypto space is pondering within a very narrow range as Bitcoin price is constantly failing to sustain above $20,000. With slashed volatility, the markets are expected to remain consolidated for a longer time. However, BTC prices may get a wider push as unexpected volatility may chip in any time from now.
Additionally, the induced volatility may certainly not guarantee the direction of the upcoming movement as the major factors that impeded the BTC price earlier may reappear soon. Despite the happenings within the crypto space, the star crypto continues to be within a bullish range. Multiple factors are about to kick in, but analyst Micheal van de Poppe believes if the BTC price sustains above $19,500, then it may be the confirmation of an upcoming move.
The analyst here lists multiple events which are scheduled to occur in the week and that may impact the BTC price. Therefore, it is very important for Bitcoin to stabalize above the crucial levels presently, to offer a strong base for the altcoins to flourish.
Is AltSeason on the Way?
While Bitcoin price is trading sideways, the market participants’ focus has been shifted to the other tokens or the altcoins. Hence most of them are displaying significant strength and trading above their respective support levels. However, the altcoins are about to witness a major jump as the altcoin market cap is flashing bullish signals.
The altcoin market cap continues to trade along the lower trend line and is trying hard to regain the $600 billion mark. The levels are currently trading within the symmetrical triangle and are about to reach the apex of the consolidation ahead. Therefore, after a brief consolidation, the market cap may break out of the triangle and rise high to reach the immediate high of $700 billion.
This may be when the Altseason 2022 may begin, provided, the Bitcoin(BTC) price continues to trade above $19,000.
