Bitcoin has recently experienced a minor setback, dropping below $58,000 for a period. However, the bulls are standing firm, and signs point to a potential upswing that could kickstart the next bull run in the near future.

During the weekend, Bitcoin’s price remained relatively stable with low trading volume, leading to a bullish trend despite mounting selling pressure. While short-term bearishness may cause some delays in the anticipated rally, it is unlikely to deter the overall upward trajectory.

The popular cryptocurrency has been under significant upward pressure, particularly over the weekend, leading to a bearish start to the new week. This has pushed the resistance level back down from its previous high of $60,500. With the price forming lower highs and lows, a temporary pullback was expected due to high leverage in the market.

The accumulation of long positions with high leverage in the same price zone led to significant liquidation, resulting in a notable pullback in the BTC price. Despite this pressure, the cryptocurrency continues to show bullish signals, with historical patterns indicating a potential replication of a previous trend that saw Bitcoin reach new all-time highs.

Analyst ALI has compared the halving cycles of 2016-2020 & 2024-2028 and 2020-2024 & 2024-2028, suggesting that the Bitcoin price is still in the early stages of the upcoming bull run. This forecasts significant price action yet to occur and presents a buying opportunity before the run begins.

As indicated by the comparison, the current market conditions suggest that the upcoming bull run is still in its early stages. This means that there is potential for significant growth and a major price rally for Bitcoin in the near future.

With this analysis in mind, traders and investors may have an advantageous opportunity to enter the market before the anticipated bull run gains momentum. It is imperative to monitor the market closely and consider the potential for significant price action in the coming days and weeks.

In conclusion, while the recent liquidation of long positions caused a temporary dip in the Bitcoin price, the cryptocurrency is still showing signs of bullish momentum. Expert analysis suggests that the market is in the early stages of the upcoming bull run, presenting a promising opportunity for investors to capitalize on the anticipated price rally. The next phase of Bitcoin’s volatility wave could very well lead to the next significant move in the cryptocurrency’s price.

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