Latest Bitcoin Surge Could Be The Start Of Massive Rally In 2023

More optimistic predicitons about the price of Bitcoin are being released these days. Check out the latest one at the beginning of a new week.

A popular crypto strategist is unveiling a bullish outlook for Bitcoin now that BTC is trading above $20,000.

Pseudonymous analyst Cheds said recently that a big rally might be in the cards for Bitcoin, with BTC poised to print a bullish reversal structure.

“Above $18,200 opens up the possibility of an inverse head and shoulders complex, multiple shoulders (or wide left) and head with neck-base at $25,500.”

Looking at the trader’s chart, he predicts that Bitcoin could surge as high as $37,000 should it take out resistance at $25,500. He basically suggests an upside potential of over 75% for the king crypto from current prices.

Cheds also says that the fear of missing out could drive traders to chase Bitcoin rallies.

“Legit surprised by the strength [of] BTC.

Gotta respect the pump.”

Regarding the altcoins, Cheds believes that digital assets other than Bitcoin will eventually follow BTC’s explosive price action.

“If BTC and ETH pause to consolidate, altcoins should make some serious noise.”

At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $20,783.

A popular crypto strategist says that the current Bitcoin (BTC) rally is mirroring a pattern that preceded the king crypto’s massive eruption in 2019.

Pseudonymous analyst Smart Contracter said not too long ago that Bitcoin is likely to dominate the crypto markets in a repeat performance of its 2019 burst.

He said the following:

“BTC finally broke its $18,400 horizontal highs. BTC dominance going on run and most conditioned to be all in alts. [Definitely] starting to feel more and more like an April 2019 moment every day.”