- Bull market expected to arrive when BTC breaks above $82,000.
- So far, BTC has reclaimed prices as high as $79,000.
- Can the price of BTC go fully bullish by the end of August?
Over the past two days, the price of BTC has risen by over 10% going from $69,000 to $79,000, leading to bullish fervour returning to the crypto market. According to one crypto analyst, this pump came just as expected with the end of the bear market and the possible start to the bull market. Presently, the expert says the bull market is expected to arrive when BTC breaks above $82,000.
Bull Market Expected to Arrive When BTC Breaks Above $82,000
Thus, he began to accumulate BTC between the $54,000 – $64,000 price range, and now the price of BTC has almost reclaimed the $80,000 bull target.
According to CoinMarketCap analytics, the price of BTC is currently trading in the $77,000 price range, showcasing a surge of over 8% in the last 24 hours. To highlight, earlier today, the price of BTC just about reclaimed the $79,000 price range but failed to carry on upwards to the $80,000 price range. A spot that Doctor Profit believes will be crucial to confirming that the bull market will begin.
As we can see from the post above, the expert shares a detailed post accompanied by a BTC price chart where he marks $82,000 to be the reclamation target for the price of BTC to hit to confirm that the bull market has begun. However, as for where BTC sits right now, he says that most are looking for a justification to why the pump occurred and wonder how we suddenly went from bearish sentiments to witnessing the largest liquidation event for bears in history.
BTC Reclaim Prices as High as $79,000
He also goes on to praise BTC for crushing one resistance after another. To highlight, he says that Bitcoin has crushed 4-5 entire bear market resistance zones within a single day. This is remarkably impressive. What’s more, BTC also blew past the Bear Market Resistance Bands, silencing those who believed in this outdated indicator, as he calls it. This leads to just two more resistance zones for BTC to blow past to fully confirm the start of a bull market.
Despite having said that, the expert confirms that the bear market is over and that the early stage of the bull market has begun. As for the two resistances that need to be broken past, the first sits at the $78,000 price range. It seems BTC is currently trying to break past this resistance level now. Once this resistance is retaken, BTC will have one final resistance to beat at the $82,000 price range.
