Bitcoin Weekly Forecast: BTC eyes $60,000 but correction looms

Bitcoin (BTC) price has been moving up only since January 22 but could slip into a consolidation before the next leg up.

Bitcoin price retests a tough resistance level at $52,062. A lack of momentum is likely to trigger a correction and consolidation for the next few weeks. Investors can expect BTC to remain between the $52,062 to $45,156 levels. Bounce at the lower end of the potential range could see a revisit of the $58,399 weekly resistance level. Bitcoin price has been moving up only since January 22 but could slip into a consolidation before the next leg up.

The upside target for Bitcoin price includes the next weekly resistance level at $58,399. However, it is unlikely BTC will stop at this level, a quick extension higher could see the pioneer crypto revisit the $60,000 psychological level after more than two years. The euphoria, coupled with the retail FOMO for hitting $60,000 could be enough to propel Bitcoin price to retest and overcome the all-time high of $69,138.

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