Crypto markets are gearing up, time for a relief rally towards $2 trillion very soon

Bitcoin price, after hitting recent highs above $21,000, has fallen further due to intensified bearish action

Meanwhile, crypto markets appear to be gearing up for a massive run ahead as fractals rise above bearish captivity.

The crypto market capitalization topped $1 trillion amid recent price action that boosted levels after an extended consolidation. Meanwhile, the price of Bitcoin drops significantly and falls below $20,500 but holds firmly along the pivotal support zone, indicating the resumption of bulls very soon.

Amid bearish clouds continue to prevail, bull flags continue to flatter the crypto space. The market capitalization has formed a double bottom pattern which is widely considered bullish and therefore, remarkable price action is believed to be approaching soon.

A well-known analyst, Micheal van de Poppe, points out that the market capitalization has never been below the 200-week MA, unlike Bitcoin and Ethereum prices. As the market capitalization continued to hover around the 200 week MA and markets fell over 70%. Now, when the levels try to recover their positions above these levels, a remarkable recovery can quickly approach.

However, the crucial resistance lies around $1.193 trillion which could lead to a significant rise towards $2 trillion as predicted by the analyst. Therefore, if the market capitalization starts its bull run, the prices of Bitcoin and Ethereum should also explode very soon. A firm recovery beyond their respective resistance therefore seems imminent.