The bulls are on the march once more, and this time, they've prepare their sights on a new all-fourth dimension loftier for Bitcoin's (BTC) price, which is inside striking altitude of the $67,000 level.

Data from Cointelegraph Markets Pro and TradingView shows that a late-night surge on Monday catapulted the price to an intraday loftier at $66,557, and at the fourth dimension of writing, trading book continues to increase as bulls attempt to secure a daily close higher up $66,000.

BTC/USDT 4-hour chart. Source: TradingView

Here's a look at what analysts are saying well-nigh Tuesday's rally and where BTC'due south price might head in the short term.

There's only 1 last resistance level

Independent market annotator Rekt Uppercase posted the following nautical chart, highlighting his point of view that there is "ane final resistance left earlier BTC enters its parabolic phase of the bike."

BTC/USD 1-week nautical chart. Source: Rekt Capital/Twitter

As seen in the in a higher place chart, the last major resistance level standing in BTC'due south manner is near $67,000.

Insight into how long this bullish breakout could sustain was provided by David Lifchitz, managing partner and main investment officer at ExoAlpha, who indicated that Monday's price activity is a clear sign that "the bulls are in command and will probably remain every bit such by year-cease."

A give-and-take of caution was offered by Lifchitz, nonetheless, as the saga that is Mt. Gox could reassert its influence on the cryptocurrency market in 2022 and potentially bring a halt to whatsoever bullish momentum.

Lifchitz said:

"With the Mt.Gox liquidation looming sometime in January on superlative of a historically weak quarter (Q1), the bears may take their revenge by then. That beingness said, the bulls accept taken over for now, and I don't come across any reason for them to plough back, besides the usual breathers, unless there is some drastic news on the regulation front which is always the wild card hanging over a bull market…"

"The squeeze" is just get-go

A 2d bullish take on Mon'south cost action was provided past options trader and Crypto Twitter analyst John Wick, who posted the following chart highlighting a clasp break out into a major resistance zone as BTC's price approaches the "clear skies" higher up.

BTC/USD i-day nautical chart. Source: John Wick/Twitter

Wick said:

"Squeeze Breakout just started & we're almost at ATH. Later on ATH no resistance left!"

Related: Bitcoin flippens Tesla and Facebook — Will Amazon exist next?

Historical fractal suggests an approaching price spike

Ane last perspective was offered past crypto analyst and pseudonymous Twitter user TechDev, who posted the following chart comparing the price action during previous Bitcoin balderdash cycles to the current market place.

Bitcoin price performance during 2022, 2022 and 2022 balderdash markets. Source: TechDev/Twitter

The electric current phase of the marketplace as compared to previous cycles is highlighted by a yellow circumvolve and the words "Yous Are Here," suggesting the possibility that a parabolic blow-off-top could come within the next couple of months for Bitcoin if the electric current cycle plays out in a similar fashion equally the last two.

The overall cryptocurrency market capitalization now stands at $2.877 trillion, and Bitcoin'south dominance rate is 43.3%.

The views and opinions expressed here are solely those of the author and practise not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves chance, you should conduct your ain inquiry when making a determination.