While Q1 Close is on the cusp, these could be the possible scenarios for Bitcoin (BTC) price!

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Bitcoin made another big step above $42,000 and gained massive bullish momentum but still lagged an inch to hit the required levels. It is not the first time that the star crypto has scored highly, but each time failed to hold up. Despite breaking these levels for the ‘ninth’ in a row, the set still appears to be within healthy consolidation rather than an uptrend that will see a pullback soon.

Bitcoin (BTC) varying within the consolidation

Bitcoin currently appears to be within healthy consolidation since the start of annual trading. The price quickly dropped below $35,000 and also caused a strong flip above $40,000 at press time. Despite increasing bullish momentum, the asset may again be rejected, forcing the price to stay within consolidation.

As can be seen from the chart, the BTC price fluctuates within a huge symmetrical triangle with the top being very far away. Plus, when it hit the upper resistance, the asset has already sparked a bearish candle that could drag the price towards the support levels into the weekend. However, the asset may struggle to close out monthly and quarterly trades on a bullish note. And it can only succeed if it successfully breaks through the crucial levels.

Bullish and bearish breakout in Bitcoin (BTC) price

Since the Bitcoin price fluctuates within the symmetrical triangle, the possibilities of a breakout or outage cannot be completely ruled out. The break above the levels around $43,000 could validate an uptrend that could eventually move towards $45,000. Therefore, setting up a bullish plot to hit $50,000 somewhere in the first few weeks of Q2 2022.

On the contrary, if the BTC price within the triangle is consolidated until the end of quarterly trading, then the possibilities of a breakdown cannot be ruled out. And in such a case, Bitcoin could resume a consolidated trend through the middle of the second quarter of 2022 and eventually attempt to stabilize a healthy uptrend towards the crucial $45,000 to $46,000 range. .

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