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BTCUSD Violates $28,000 and Could Rally to $30,000
Bitcoin has successfully broken through the significant resistance level of $28,000, marking a notable achievement after several attempts. This breakthrough was achieved yesterday, propelling the price to $30,000 before experiencing a corrective pullback to $28,000. Current market indicators suggest that Bitcoin may continue its upward trajectory, potentially aiming for the $30,000 mark.
BTCUSD Key Levels
Supply Levels: $30,000, $35,000
Demand Levels: $26,300, $28,000
Following the breach of the $28,000 resistance, the market is expected to establish stability above this level as strong buyer support becomes evident. Subsequently, BTC price is likely to make an upward move toward the $30,000 resistance, although multiple attempts may be required to surpass this significant level.
On the daily chart, the Moving Average (MA) Cross has experienced a rapid upward crossover in response to the price surge beyond $28,000. The Average True Range (ATR) reflects a sharp increase in market volatility, which provides an opportunity for buyers to target the $30,000 resistance for a potential breakout.
Market Expectations
The 4-hour chart further illustrates the heightened market volatility, as indicated by the rising ATR values. The MA Cross, crossing upward and serving as support for the candlesticks in this timeframe, signals that buyer momentum is strong. This momentum could be harnessed to drive the price toward the $30,000 level.
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
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