BitcoinBTCCryptocurrency EducationIndustry AnalysisNEARNews

Bitcoin (BTC) 30% Pump Will Break All-Time High: Here’s Potential Date

1 Mins read

Bitcoin is on the brink of a historic moment, with price action hinting at an impending breakthrough that could set new standards for the original cryptocurrency. With the upcoming approval of a Bitcoin ETF, market sentiment is bullish, and there is a possibility of a price surge.

Market makers, having taken a step back, have primed the market for a dramatic move; the announcement of the Bitcoin ETF in the following week could catalyze a wick above the all-time high with just a few outsized orders.
BTC/USD Chart by TradingView

The technical analysis of the Bitcoin chart reveals a poised asset, with local resistance being tested and support levels holding firm. A glance at the chart indicates that the 50-day moving average is well below the current price, acting as a strong support level, with the 200-day MA tracing an even steeper ascent, further bolstering the bullish setup. The current price hovers near a critical resistance level, and a convincing break above this level could signal the start of a significant rally.

The potential for a short squeeze is high, given the number of open positions betting against BTC. If these shorts start to close en masse — either through traders taking profits or being forced out by stop losses — a massive rally could ensue, pushing prices toward psychological levels of $50,000, $55,000 and $60,000. These round numbers often act as mental barriers for traders and could serve as interim points of resistance; however, once broken, the pathway to higher levels seems clear.

Furthermore, the volume profile suggests that there has been considerable accumulation in the current range, which supports the idea of a strong foundation for upward movement. The Relative Strength Index (RSI) is trending in the neutral zone, indicating that there is room for growth before the asset becomes technically overbought.


1409 posts

About author
Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
Related posts

Indonesia's presidential elections pose uncertainty for the thriving cryptocurrency industry

1 Mins read
Indonesia, has emerged as a formidable player in the global cryptocurrency space in recent years. However, the nation’s upcoming general elections in…

Understanding the Cryptocurrency Boom - Dogecoin Climbs Due to X Payment Integration, While Stellar and BNB Also Experience Growth

1 Mins read
The cryptocurrency market has been experiencing notable gains over the past few days. This is led by an unexpected and surprising spike…

Crypto Entrepreneur Charged with Defrauding Investors Out Of $150 Million Through Marketing Scheme

1 Mins read
Federal prosecutors have charged a German businessman with securities fraud, wire fraud and money laundering for allegedly scamming over 150 investors out…

🚀 Ailtra Crypto Bot Earned $8.9M Million in 7 Months with 0% Loss!

🚀 Ailtra generated $7.4 in 7 months only!

Unlock 20-75% Monthly Returns & Get $100 FREE!

Meet Ailtra Bot! Launching on 31st March an AI Crypto Bot boasting 20%-75% monthly gains and $7.5M earnings in 7 months. 💸Secure a FREE $100 bonus and up to $20K potential via referrals every month. 🎉Only 1,000 spots are available in first phase – claim yours fast! 🔥 will not disclose your account information to any 3rd parties.