The top cryptocurrency, Bitcoin (BTC), has become more volatile recently. It went up by 2% in the last 24 hours, surpassing $30,000 on certain exchanges. Experts are optimistic, saying that “the party is coming.”
BTC’s performance over the past week has been somewhat stable, making some investors less hopeful about an increase. However, crossing back over $30,000 is seen as positive, and the charts are also giving important signals to back this viewpoint.
BTC Price Nearing Party Time
Michael van de Poppe is excited about BTC’s upcoming good times. According to his chart, he clearly marks the point where the party begins. He highlights a level over $29,799 for BTC on this chart, suggesting a substantial increase beyond that point. While BTC reached and went past this area today, it didn’t manage to sustain that position for long.
BTC had recently reached a peak of $32,000. Poppe’s present forecast, along with the term “party,” suggests a more robust surge. Another analyst, Mikbull Crypto, chimed in below this remark, sharing a similar perspective.
Mikbull Crypto mentioned that surpassing $29,700 would lead to more momentum, aiming for an initial goal of $31,200 and then potentially reaching $36,000.
BTC and Altcoins Are on the Move
The surge of the main cryptocurrency has triggered substantial liquidations, amounting to millions of dollars. This increase in liquidations might speed up, particularly after crossing the $30,000 mark. In such a scenario, it’s possible that short positions could lead to a significant price breakthrough. This could result in a sharp price rise, as downward selling positions become scarce.
BTC’s upward movement has also positively impacted other cryptocurrencies in the top 10. Notably, XRP, ranked fifth, reached $0.64, nearing a crucial resistance level. If it surpasses this level, it could potentially retest $0.81. Another cryptocurrency of note is Solana (SOL), which increased by 6.2%. This shift indicates that altcoins are beginning to move as well.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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