The BTC bulls have gained immense bullish momentum as the prices have inflated above $73,600 for the second consecutive day. The bulls’ preparedness and growing strength suggest the price may continue to maintain a healthy upswing as the upper targets remain pretty distinct. Therefore, Bitcoin seems to be getting ready for the upcoming weekend, as the markets are expected to remain extremely volatile.
Just a few weeks ago, the Dencun upgrade went live on the Ethereum network. This was believed to have a significant impact on ETH price and also the other altcoins, specifically the DeFi tokens. However, the traders appear to have shifted their focus back towards the star token, Bitcoin, as the prices have been ranging high after a brief consolidation.
The current trade set-up suggests the next pit-stop for the BTC price rally could be not less than $75,000. But the question arises as to whether it will be achieved during the upcoming weekend.
The long-term trade suggests the BTC price could print consecutive bullish candles and reach the higher speculated target. However, the short-term trade reflects the time frame of the upcoming achievements, as minor price deviations are seen in the hourly chart. The BTC price in the short term is trading within a rising wedge, which could result in a temporary pullback towards the local support of around $72,700. The volume remains in favour of the bulls and hence an immediate rebound could follow. Besides, the RSI trades above the average, which suggests that bullish strength could prevail for the next few days.
Regardless of the minor pullback, Bitcoin holds significant dominance as the Bollinger bands have started to expand with the prices hitting the upper bands. This indicates the token could remain stuck at these levels and mark a new ATH above $74,000, at around $74,500 in the next few hours. This could attract fresh bearish action, dragging the levels towards the local support at $72,600.
Therefore, this suggests the Bitcoin price has the possibility of hitting $75,000 this weekend, which may not be challenged by the bears.
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