Crypto Space Heading Towards Bearish Quarterly Close, This is What You Can Expect in Q4

The crypto markets bloomed for a while as Bitcoin prices raised beyond $19,500. However, the upper limits remained capped at $19,600, where the asset faced constant rejections in the past couple of days. Presently, the prices have begun to head towards the crucial demand area, hinting at a probable bearish close for the quarter. 

On the other hand, the Ethereum price is close to losing the pivotal $1300 level, which may further induce bearish momentum in the coming days. Therefore, the BTC price is expected to pull a massive leg up in the coming days, which may induce a catapult action to soar high beyond $30,000 in the next 6 months. 

The BTC price is closer to forming the second bottom of the double bottom pattern, which may further uplift the price beyond interim resistance at $22,500 and later at $25,000. By the end of 2022, the prices are expected to have risen by another $29,000. However, a steep bearish action is expected at $30,000, which is also the neckline of the double-bottom pattern. 

However, Bitcoin prices continue to trade within an ascending triangle in the short-term and are expected to undergo a short-term bounce after reaching the apex. Moreover, external factors are slowly turning in favour of the crypto markets as many countries’ inflation rates are reaching their highest value. Therefore, despite a bearish close for the quarter, the upcoming months may be pretty thriving.