The co-founders of Glassnode, a crypto analytics platform, have predicted that Bitcoin (BTC) could reach $85,200 before summer if a certain technical setup is realized. They explain that BTC is currently breaking out of a bullish pennant pattern and, once it surpasses the $65,000-$66,000 level, it could climb to $73,500, then $76,500, and potentially even reach $85,200. Despite a bearish weekend marked by long position liquidations, Glassnode believes that if BTC continues to consolidate, it could surpass the $65,000 resistance level and gain momentum towards $70,000. However, crypto analyst Benjamin Cowen suggests that BTC’s rally may be short-lived, comparing it to the behavior of the Russell 2000 Index, NASDAQ, and S&P 500. Cowen notes that these stock indexes rose to their 50-day simple moving average before correcting, a pattern that BTC could follow. At the time of writing, Bitcoin is trading at $62,289, representing a 2.22% decrease in the past 24 hours.