Bitcoin goes over $30,000 in the second day of the new year, making a strong start for 2021 as it broke the coveted psychological level at the $30,000 price point so let’s take a closer look at the price analysis in our BTC news.
Two days as the new year started, Bitcoin took off and surpassed the $30,000 price range. The price of the benchmark cryptocurrency market another leg up, reaching $30,665 on the popular EU-based crypto exchange Bitstamp and it is now trading up by 3% in the past 24hours. Over the past week, Bitcoin’s price increased by 20% and this is also the sixth consecutive daily candle that BTC is trading in the green. The cryptocurrency is in a price discovery mode making it hard to pinpoint exact targets.
It is also worth noting that severe volatility is likely to be expected in the following few hours so the traders have to be careful when timing the market. At the time of writing, all of the BTC holdings are in profit and are highlighting the notion that HODLing BTC should be careful and profitable rather than trying to time the market. Bitcoin goes over $30,000 as of today with it surpassing the psychological level but we will watch closely on the price analysis and charts in the upcoming days.
As recently reported, Bitcoin has enough fuel to continue the bull run until its price reaches the predicted level of $73,000 according to analyst Alan Masters. The independent consultant shared his bullish outlook for the number one cryptocurrency after he started studying the long timeframe charts. He noted that the BTC/USD monthly chart printed TD Sequential signals since 2016 and resulted in a bullish rally each time.
Even on the weekly timeframes since 2020, each of the TD Sequential cycle where the asset printed eight or nine consecutive candles before in the same direction before it changed courses and led the pair exchange rates higher. Mr. Masters called the technical indicator a “real deal” suggesting that the historical accuracy will push the pair towards $44,000 or $44,600. It is having a parabolic run with no signs of stopping as the analyst stressed and it seems that BTC will top out higher levels such as $73,200.
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