Bitcoin has some things in its favor for a near term price increase

The sentiment is slowly starting to turn.

The price if off the lows and the chart setup tells me its likely looking for more.

Bitcoin is about to see some moving averages cross which historically is a good thing.

Check this out:

(Source: https://twitter.com/el_crypto_prof/status/1584838977525207042/photo/1)

The setup looks very much like we saw back in early 2019 when bitcoin went on a several month rally.

During that time the price went up more than 3x.

I don't think we will a 3x move again here over the next couple months, but a double doesn't seem impossible...

That would put the $40k area in play over the coming months.