Bitcoin bears trapped, but can BTC price surpass $70K by August?

Bitcoin price has confirmed its price reversal, but can it reclaim the $70,000 mark before the end of summer?

• Bitcoin price reverts to bull trend: analyst
• Can Bitcoin reclaim $70K next month?

Bitcoin price reverts to bull trend: analyst

Bitcoin’s price has recovered from its over one-month downtrend, according to technical analysis from one popular crypto trader.

“Bitcoin is back above one of the most important bull market lines (blue line). In the previous cycles, it NEVER fell below it until the cycle top (monthly close). This is a strong sign that the bull market is far from over.”

In another bullish technical signal for BTC price, the selling pressure from long-term Bitcoin holders has stopped, according to analyst and CryptoQuant author Axel Adler.

Can Bitcoin reclaim $70K next month?

Not only did Bitcoin get a nod from BlackRock CEO Larry Fink this week, but based on technical chart patterns, it could reclaim $70,000 by the end of August if the current uptrend continues.

“Bitcoin bulls are again trying to clear the Crucial Resistance level at $60K. Once the Breakout is done, the next stop will be $70K.”

In a more bullish scenario, Bitcoin could be setting up for a rally to the $85,000 mark by the end of September, according to popular analyst Crypto Wealth.

As reported, several new bullish price predictions have surfaced in recent weeks, including a $330,000 target.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.