Bitcoin Could Break $30,000 After Climbing Above This Key Level

2021-1-2 20:30

Bitcoin is inching closer and closer to the coveted $30,000 region, with this long being a target looked upon by investors Because this level has psychological significance, there’s a strong possibility that it will hold as resistance and may be a difficult hurdle for bulls to overcome There is a strong possibility that a clean break above this level could open the gates for the benchmark cryptocurrency to see a continuation of its parabolic uptrend One trader is now noting that BTC could be on the cusp of posting a strong break above this level He notes that its technical strength comes from the recent break above $29,200, which is now holding strong as a support level

Bitcoin and the entire cryptocurrency market have seen mixed price action over the past few days and weeks.

The selling pressure seen over the past couple of days has all been absorbed by bulls, with bears being unable to gain any major footing within the market.

Where the entire space trends in the near-term should depend largely on whether or not bulls can shatter the resistance that sits around $30,000.

A firm break above this level would contribute to the cryptocurrency’s parabolic momentum and potentially allow for a massive upswing.

Bitcoin Gains Momentum as Selling Pressure Evaporates 

It does appear that Bitcoin is facing a so-called “sell-side liquidity crisis,” as each selloff is almost instantly absorbed.

This has allowed the crypto’s price to gain a strong foothold above $29,000, with it currently trading up just over 1% at $29,400.

It has yet to test $30,000, but it does appear that bulls are vying for a break above this level in the near-term.

Trader Claims Recent Push Past $29,200 Likely to Lead to $30k Breakout 

One prominent trader explained last night that $29,200 is a crucial level for the entire cryptocurrency market. The break above this level is likely to provide BTC with further upwards momentum in the days ahead.

He is specifically watching for a breakout above $30,000 next.

“BTC: Bitcoin ranging here into the New Year. Watching levels on 4 hr – $29,100s to $28,300s We’ve seen Bitcoin get bought up several times now – with a break above $29,200 – IMO cold have the legs to push to $30k+.”

Image Courtesy of Josh Rager. Source: BTCUSD on TradingView.

Whether or not Bitcoin can break above $30,000 in the mid-term should shed some light on where it will trend in the weeks to come.

Featured image from Unsplash. Charts from TradingView.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Level Up Coin (LUC) на Currencies.ru

$ 0 (+0.68%)
Объем 24H $0
Изменеия 24h: 1.94 %, 7d: 12.29 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 7.53E-5 (-100%)

closer bitcoin possibility level overcome clean hold

Источник: newsbtc.com

closer bitcoin → Результатов: 126


Фото:

FATF ‘Absurd’ Bitcoin Exchange Rules Will Reduce Crime, Researchers Admit

The FATF ‘Travel Rule’ that cryptocurrency proponents have described as “absurd” will result in a mass shift to compliance among Bitcoin exchanges, new data claims. FATF Rules Move Closer To Law In a report issued on September 9, Crystal Analytics, the dedicated offshoot of mining giant Bitfury, forecast possible consequences of cryptocurrency rules likely to become law across the globe by June 2020.

2019-9-10 16:00


Bitcoin Price: Bulls Under Pressure to Break $8.2K in Rising Wedge

Bitcoin buyers appear to be eyeing the psychological $8,200 level above today, but fears of a rising wedge reversal could put an abrupt end to the rising price. Let’s take a closer look. Bitcoin 4-Hour Chart On the 4-Hour BTC/USD chart, the price appears to be consolidating inside a bearish rising wedge pattern between two pinching trendlines.

2019-6-13 19:15


SEC Chair: Bitcoin Is Not Like Stocks, ‘We Won’t Flip a Switch on Crypto’

  By CCN: SEC Chairman Jay Clayton has realized something the crypto community has been trying to tell him for years – cryptocurrencies aren’t stocks. In an interview with CNBC this morning, Clayton offered the securities regulator’s latest take on bitcoin, and it seems they appear no closer to providing any clarity for traders and blockchain startups today than they were a year ago.

2019-6-6 16:35


Will Bitcoin Price Finally Reach $10,000 This Week?

Bitcoin price saw a 3% move to $8,833 is bringing the digital asset closer to a retest of the weekly high. Will it happen before this new week starts?  Bitcoin Price Must Overcome This Key Hurdle for $10K Sentiment wise, bitcoin’s path to $10,000 remains strong and each week a number of positive media reports appear to be re-enforcing the bullish consensus for the top digital asset.

2019-6-3 07:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Price Takes a Sharp Dip: Is This Just a Correction?

Bitcoin price is correcting gains from the $73,500 zone. BTC is back below the $70,000 level and showing a few bearish signs. Bitcoin started a fresh decline from the $73,500 zone. The price is trading below $71,500 and the 100 hourly Simple moving average.

Bitcoin Price Nears All-Time High: Can It Push Past the Mark?

Bitcoin price is rallying above the $72,000 zone. BTC is up over 5% and it could soon aim for a new all-time high above $73,500. Bitcoin started a fresh increase above the $70,000 zone. The price is trading above $70,500 and the 100 hourly Simple moving average.

Bitcoin Price Rallies Above $70K: Is a New High Within Reach?

Bitcoin price is rallying above the $70,000 zone. BTC is up over 5% and it could soon aim for a move above the $72,000 resistance zone. Bitcoin started a fresh increase above the $68,000 zone. The price is trading above $70,000 and the 100 hourly Simple moving average.

Bitcoin Price Targets Gradual Rise: Will the Uptrend Hold?

Bitcoin price is attempting a fresh increase above the $67,000 zone. BTC could gain pace if it clears the $68,750 resistance zone. Bitcoin started a fresh increase from the $65,500 zone. The price is trading above $67,200 and the 100 hourly Simple moving average.

Bitcoin Price Eyes Further Gains: Can It Keep Climbing?

Bitcoin price is attempting a fresh increase above the $37,000 zone. BTC could gain pace if it clears the $68,800 resistance zone. Bitcoin started a fresh increase from the $65,200 zone. The price is trading above $67,500 and the 100 hourly Simple moving average.

Bitcoin Price Could Reignite Uptrend: Is a New Surge Coming?

Bitcoin price tested the $65,200 zone before the bulls appeared. BTC is now rising and aiming for more upsides above the $67,500 resistance. Bitcoin extended losses and tested the $65,200 zone. The price is trading below $67,500 and the 100 hourly Simple moving average.