Bitcoin is in a local bottom that will not last long Bitcoin price is consolidating in a local bottom, with BTC / USD hitting a local high of $42,000. Bitcoin has now moved into a new local bottom, with BTC / USD moving within a few hundredths of a percent of this local top.The last few days have been quite bullish for bitcoin, with the coin breaking the $42,000 resistance level for the third time in a week, and everything remain positive on the weekly and monthly charts. Bitcoin price, however, is experiencing a local bottom that will not last long, and this is likely to continue in the near term. This is the opinion of several analysts who, in line with previous bullish cycles, warn that this is the most important level for bitcoin to protect against in the near term. "Bitcoin's consolidation phase is coming to an end," opined Michael van de Poppe, a trader at the Amsterdam stock exchange. Poppe further explained that consolidations are usually signs of a local bottom, and bitcoin has them. a consolidation phase over the past 10 days. He continued:"$42K is a major support, and it is necessary for further growth. It was a major resistance just a few days ago. Now we are at the point where it can be converted into support without much problem."A combination of technical dynamics, a shift in momentum to higher levels, and growing institutional interest is increasing the likelihood of a larger rally in 2021. In the short term, the analyst said that bitcoin can avoid a pullback into the $30,000 area by testing the $42,000 level. If successful, the next hurdle will be $44,000, and then successful growth.Short-term factors that can lead to a continuation of the BTC rallyIn the short term, the price of BTC can take several factors into account. First, bitcoin can maintain its current momentum as it enters a new local bottom. Secondly, the momentum of BTC can be tested at the $42,000 level.Finally, BTC has been showing rising lows for several weeks now, a phenomenon known as "rising lows". This phenomenon occurs as BTC moves from previous peaks to new local bottoms.Historically, BTC has moved this way multiple times in the future. For example, from the March peak to the December 2019 low, BTC showed a sharp increase.Now that the price is above $40,000, there is a small chance that BTC will move to the $40,000 region. However, as long as the price is near the $40,000 level, there is a chance that BTC will move to the next local bottom at the level of $42,000.For example, in the first week of September, BTC dropped to $300, but quickly recovered to $400 before falling to $300 again. In the next two weeks, BTC rose to