Does Bitcoin (BTC) Have the Steam to Reach $30,000?

2020-12-28 11:48

The Bitcoin (BTC) price continued its ascent last week, reaching another new all-time high of $28,422 on Dec. 27.

 

Short-term readings suggest that a top has not yet been reached and that another upward move could occur.

  New Bitcoin High Creates Shooting Star

The BTC price continued its ascent during the week of Dec 21-27, reaching yet another new all-time high of $28,422 on Dec. 27.

Despite a relatively long upper wick, the weekly candlestick still looks bullish.

Furthermore, technical indicators do not yet show any weakness, suggesting that the trend is still bullish.

BTC Chart By TradingView

The daily chart shows the first signs of weakness, visible in the form of a shooting star candlestick created on Dec. 27. The candlestick was also combined with a bearish divergence in the RSI.

However, both the MACD and Stochastic oscillator are still bullish and could allow for the upward movement to continue.

BTC Chart By TradingView Future BTC Movement

The six-hour chart for BTC shows the first clear signs of weakness in the form of a bearish divergence in both the RSI and MACD.

However, it also shows that BTC has been following an ascending support line since Dec. 10, which is currently near $25,000.

As long as BTC is trading above this support line, it is expected to continue moving higher.

BTC Chart By TradingView

The 30-minute chart shows that BTC has broken out from a descending resistance line, which came after a downward move that looked entirely corrective (highlighted in red).

If BTC is able to move above the current resistance area (0.618 Fib retracement), it would be expected to make another breakout attempt and possibly reach another new all-time high.

Conversely, the loss of the minor $26,000 support area could take BTC back down to the ascending support line at $25,000.

BTC Chart By TradingView Conclusion

Bitcoin is expected to make another breakout attempt and possibly reach another all-time high. A decrease below $26,000 could trigger a significant drop.

For BeInCrypto’s previous Bitcoin (BTC) analysis, click here!

Disclaimer: Cryptocurrency trading carries a high level of risk and may not be suitable for all investors. The views expressed in this article do not reflect those of BeInCrypto.

The post Does Bitcoin (BTC) Have the Steam to Reach $30,000? appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 95282.86 (+0.31%)
Объем 24H $42.781b
Изменеия 24h: -1.89 %, 7d: -8.27 %
Cегодня L: $94782.14 - H: $95637.28
Капитализация $1886.584b Rank 1
Цена в час новости $ 27153.35 (250.91%)

new yet dec another btc bitcoin high

Источник: beincrypto.com

new yet → Результатов: 126


Bitcoin Consolidation At ATH: Expect Shake Outs, Traps, & More Before Next Leg

Bitcoin is trading right around its former all-time high, and although a new record has been set, the crypto market has yet to see the fireworks that they had been expecting once here. Instead, a pseudonymous technical analyst says that what the market should be anticipating instead of a direct moonshot, is “consolidation” consisting of […]

2020-12-16 04:00


MassMutual Invests $100M In Bitcoin; ‘Other Return-Hungry Insurance Companies’ Buying BTC: NYDIG Chairman

The 169-year old mutual insurer, MassMutual, purchased $100 million in Bitcoin for its general investment fund. This bitcoin investment is part of the company's broad strategy to take advantage of new opportunities that give it “measured yet meaningful exposure to a growing economic aspect of our increasingly digital world.

2020-12-11 18:06


New Capital & Old Money from Crypto Market All Moving into Bitcoin

Bitcoin is above $12,000 yet again. The leading digital currency went as high as $12,317 on Bitfinex and, at the time of writing has been trading just above $12,200. In these two days, Bitcoin has jumped nearly 9%, and it is to be seen if today we will continue this momentum upwards or things would […] The post New Capital & Old Money from Crypto Market All Moving into Bitcoin first appeared on BitcoinExchangeGuide.

2020-10-21 15:28


Lemonway Leverages RippleNet To Unlock Faster Euro-To-Euro Payments

Marketplace businesses are expanding access to new global customers and consumer access to new products—allowing sellers to grow their business faster than ever before. Yet, while these platforms meet consumer’s requirements for simple and efficient purchases, today’s slow, complex global payment processing and settlement experience is unable to shoulder the needs of businesses in this … Continued The post Lemonway Leverages RippleNet To Unlock Faster Euro-To-Euro Payments appeared first on Ripple.

2020-10-6 10:01


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

13% of Crypto Hedge Funds Have Closed in 2023 Despite Bitcoin Climbing 75%

Compared to Bitcoin, cypto hedge funds have underperformed in 2023. against this backdrop, investors have lost confidence and 13% of funds shuttered since the begining of the year. The post 13% of Crypto Hedge Funds Have Closed in 2023 Despite Bitcoin Climbing 75% appeared first on BeInCrypto.

Upbit Exchange Outperforms Coinbase and OKX in July

Korean exchange Upbit records $29.8 billion in spot trading volumes as it benefits from superior regulation compared to US exchanges. The post Upbit Exchange Outperforms Coinbase and OKX in July appeared first on BeInCrypto.