The last trading week was very stressful as the bitcoin price dropped several times and didn’t have time to bounce back. Over the weekend, the price saw a somewhat bullish trend with a healthy weekly close. However, BTC price could record an uptrend and close out the monthly and quarterly trading on a bullish note.
Next week is expected to get some higher numbers for the asset as the price may see a rally soon. A famous analyst predicts target corrections for the price of BTC, ETH and SOL for the coming week. According to Galaxy AnalyzerBitcoin price could reach $45,000 next week.
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Currently, Bitcoin price is still swinging within a descending parallel channel but is approaching its upper resistance area very quickly. On the contrary, the RSI appears to be very bullish as it is following a healthy uptrend. After bottoming below 20, the RSI rose significantly above 55 which shows strength on the upside.
However, the analysts also mentioned the targets for the other three coins that are believed to be achievable in the coming month. ETH price heading towards $3000 could jump around $3300. Solana is also expected to rise above $150 and DYDX may reach $25 soon.
Collectively, the price of Bitcoin could see a significant jump soon but the question is whether it can sustain above $45,000. With the strong resistance area around $47,000, there are no short-term jumps below this level that could validate the upside. Therefore, in order to maintain the uptrend, BTC price needs to break the channel and push higher.
Also Read: Is This The Right Time To Transfer Bitcoin (BTC) Holdings To Altcoins?
