bullish

Bitcoin

strong bull

As the crypto markets head towards the weekend, the Bitcoin price coils up back above $60,000. With this, the possibility of a bullish reversal emerges while the token is required to break above the crucial resistance zone. Besides, the BTC funding rate continues to remain extremely low, so the possibility of a bullish September has been emerging, squashing the historical pattern.&nbsp;  
With the rise in the price, the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">BTC price</a> is on the verge of a huge breakout, which will take altcoins back into a bull run. Meanwhile, the social activity accelerated to 29.65% of all crypto social activity, out of which 81% of the posts continued positive mentions. However, the BTC price continues to trade within a crucial range and hence another small rise could trigger a strong bull run.&nbsp;  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdKPfjqAPT3hhOfwSLVcvop8G77Qz9AdSPhPF6bF7EsVYrVchw6ePZeXUTb9wi4JtrbUJajWsqhTvJvbm9VM_JqhzP3WCUA84wNbIqWzfTcHAi2GbAEJ5w_OOlMe2KqpwRjeHBRg-gzjNAqc-L_QKu6e8jG?key=X4EDvQhoReiUjO_NsHfnTg" alt="">
</figure>  
A popular analyst, <a href="https://x.com/ali_charts/status/1834679828114817433" target="_blank" rel="noopener noreferrer nofollow">ALI</a>, shared some interesting on-chain fractals, which suggest the price has remained stuck within a pivotal range. As per the data shared by him, the range between $59,885 and $61,625 can be considered an important zone. Nearly 1.52 million addresses are holding over 770,000 BTC between this range. Therefore, a weekly close above or below the range may have a significant impact over the next weekly trade.&nbsp;  
While the latest upswing has circulated bullish waves across the crypto, the bears continue to hold significant dominance over the rally. The rally remains stuck within a descending parallel channel, reviving the possibility of forming another lower high and low. If the BTC price breaks the above-mentioned range, which is the average range of the channel, the possibility of reaching the upper resistance at $68,000 may become imminent. Otherwise, the Bitcoin price may again face a rejection, which may strengthen the bearish pattern.&nbsp;

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