Recent days have seen Bitcoin's price increase significantly, sparking optimism similar to that felt during Holy Week among Christians. This rise has had a positive impact on the entire cryptocurrency market, leading to notable gains for other major digital currencies.

The increase in Bitcoin's price appears to be just beginning, with an influential crypto expert on X foreseeing a positive trajectory for the leading cryptocurrency in the near future.

In a recent post on X, Ali Martinez shared an optimistic forecast for Bitcoin's price. Martinez believes that the current price movement of Bitcoin suggests that the cryptocurrency may be gearing up for another upward trend.

This positive prediction is based on the formation of an inverse head-and-shoulders pattern on a 30-minute chart. While this projection is based on a short timeframe, it could potentially unfold over the next few days.

Typically, a head-and-shoulders pattern indicates a shift from bullish to bearish trends, suggesting a potential end to an upward trend. Conversely, the formation of an inverse head-and-shoulders pattern hints at a possible reversal from a downward trend, with bullish movement on the horizon.

Based on the highlighted chart, Bitcoin's price is currently following a trend above the 200 exponential moving average (EMA). If Bitcoin maintains its position above this moving average and breaks through the $71,580 resistance level, Martinez anticipates Bitcoin's price could rise towards $74,760.

Achieving this almost $75,000 milestone would mark a new all-time high for Bitcoin's price, representing a nearly 5% increase from the current level. Bitcoin's previous record price was approximately $73,700, set a little over two weeks ago.

As of now, Bitcoin is trading at $69,875, reflecting a 0.7% decrease in the past day. While the price has dropped below $70,000, this small decline has not been significant enough to erase the gains made over the past week.

According to data from CoinGecko, Bitcoin's price has risen by almost 10% over the last seven days. Despite reaching as high as $71,500 earlier in the week, Bitcoin is now about 5% below its all-time high.

Despite this, Bitcoin remains the largest cryptocurrency in the market, with a market capitalization exceeding $1.37 trillion.