The trader predicts an aggressive move for Bitcoin (BTC) toward the $29,250-$30,400 area
On the daily chart, BTC is currently testing the previous pivot area that it reversed at back in August. It almost rejected right at the August highs, but it got a healthy candle on Friday, according to Wujastyk. If BTC breaks above $25,344 on the daily candle, Wujastyk believes it could move up quickly, possibly up to the $30,000 mark, which is an important area on the supply and demand side.
Wujastyk's analysis indicates that if BTC can anchor a volume by price, it could move quickly through the volume gap, as there are not many participants who own BTC within this area, creating a vacuum for the price to move quickly through. This might hint at a move toward the $30,000 area. As the weekend is a big time for crypto, traders will be watching BTC closely to see if it makes an aggressive move to the breakeven supply zone.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Legendary Trader Peter Brandt Spots Major Turning Points on Bitcoin (BTC) ChartBitcoin (BTC): Popular trader Peter Brandt spots major turning points on price chart BTC $BTC PeterBrandt
Read more »
Bitcoin (BTC) Remains Best for Unstable Times, but There's Catch: 'Rich Dad Poor Dad' Author'Rich Dad Poor Dad' author theRealKiyosaki doubles down on $BTC as an asset for unstable times Bitcoin
Read more »
No, Bitcoin (BTC) Not Controlled by Five People: CoinShares Debunks Toxic NarrativeWall Street Journal releases alarmist article following Wladimir van der Laan stepping down from Bitcoin Core lead maintainer's role
Read more »
Bitcoin (BTC) Price Analysis for February 18Can BTC fix above the $25,000 mark by the end of the week? NickSzabo4 alistairmilne Maybemore_DC WhalePanda
Read more »
Here's What Makes Bitcoin (BTC) NFTs Ordinals DifferentDotta, anonymous NFT developer and creator of ERC721 software license, explains what is special about Bitcoin (BTC) digital collectibles
Read more »
Bitcoin (BTC) Critic Peter Schiff Predicts Interest Rates Surge With TwistBitcoin (BTC) critic Peter Schiff believes interest rates might still rise, but there's catch $BTC BTC PeterSchiff
Read more »