Bitcoin expected to continue rising, but first, a pullback may occur, according to several analysts
After the flagship cryptocurrency, Bitcoin, surged above the $30,000 level earlier today, various experts have been sharing their takes, saying that BTC is on track to rise higher.
In the meantime, whales have begun shifting massive amounts of Bitcoin, and some are moving BTC to exchanges to lock in big profits.
Bitcoin still on course for $34,000, analyst believes
Crypto trader and analyst Ali Martinez has tweeted that his earlier prediction of Bitcoin’s price rising continues to play out thanks to the bullish megaphone pattern. It forms on a chart after a series of higher highs and lower lows that, if a line is drawn along the upper and lower borders of the picture, looks like a megaphone.
Last week, Martinez stated that thanks to this pattern, Bitcoin is in for a bullish weekend. Now, the price has broken above the $30,000 level for the first time in the past 10 days. The analyst added in the tweet that “the bullish megaphone pattern continues to dictate $BTC’s trajectory.”
#Bitcoin remains on course for $34,000 as the bullish megaphone pattern continues to dictate $BTC‘s trajectory! 🐂 https://t.co/QzPPhpmtCh pic.twitter.com/00fK5etnpN
— Ali (@ali_charts) April 11, 2023
Bitcoin “34k -> 30k -> 42k”
In a recent exchange of comments with crypto influencer and founder of Gokhshtein Media David Gokhshtein, the co-founder of King Finance @OfficialTravlad shared his take on the next move of the Bitcoin price.
He said that he believes Bitcoin is going to keep rising toward $34,000, then he expects a bounce back to the $30,000 level. After this, according to his comment, he expects BTC to top the $42,000 mark.
I think 34k -> 30k -> 42k
— Travladd Crypto (@OfficialTravlad) April 11, 2023
Yesterday, Gokhshtein grabbed the community’s attention as BTC was coming close to $30,000, but he said he was expecting a pullback before this price mark. His expectations did not come true.
At the time of this writing, digital gold is trading at $30,129, according to CoinMarketCap data, after a rise of 6.31% over the past 24 hours.
$655 million in Bitcoin moved
Santiment on-chain data vendor has spotted 11 enormous transactions, carrying roughly 2,000 BTC. In total, they moved 22,000 Bitcoins worth $655 million. These whales became active after Bitcoin surpasses the $30,000 mark.
The transactions were consecutive, occurring at short intervals. Another whale, or possibly one of the aforementioned ones — there is no any specification regarding that — sent 2,000 Bitcoins from their wallet to a Binance address, likely to sell this crypto and withdraw profits.
Besides, Bitcoin is currently a top four trending coin in crypto on social media platforms.
Source: https://u.today/bitcoin-btc-on-course-for-34000-thanks-to-this-bullish-pattern-analyst