- Bitcoin poised for noteworthy ascent, surpasses crucial levels.
- Seasoned trader Bluntz targets $28,800, predicts price discovery on upside.
- Experts speculate Bitcoin’s lateral movement indicates accumulation phase before halving.
As per the analysis of a seasoned crypto trader, who goes by the Twitter handle Bluntz, Bitcoin is poised to make a noteworthy ascent. In a recent tweet, Bluntz observed that Bitcoin has successfully surpassed both the crucial upside and downside levels, paving the way for the forthcoming price surge.
Bluntz has expressed his intention to purchase pullbacks, with a specific target of $28,800. Despite not anticipating Bitcoin’s swift recovery following the recent price dip, he has observed an impulsive upward movement in its price trajectory.
The astute trader expertly demonstrated Bitcoin’s impressive breakout from crucial levels using the 4-hour BTC-USD chart. His meticulous analysis revealed that the price had successfully surpassed the upside resistance at $27,644 and the downside support at $25,799. This indicates that these levels are no longer the dominant BTC price range, and the market is now primed for price discovery. The trader confidently predicts this discovery will be on the upside, paving the way for exciting opportunities shortly.
A Twitter user is known as CryptoGlobin has expressed agreement with Bluntz’s tweet and has put forth a similar scenario that could potentially occur with the LDO. CryptoGlobin shared a screenshot of the LDO-USDT daily chart, highlighting a symmetric price behavior that could lead to an upward climb for LDO. This analysis aligns with Bluntz’s philosophy of a breakout from the trading range on both the upside and the downside. Such insights from industry experts provide valuable perspectives for investors to make informed decisions.
According to TradingView’s data, Bitcoin soared to a yearly peak of $31,035 on April 14, 2023. However, the cryptocurrency’s value has since stabilized, leading to a prolonged period of lateral movement. Numerous experts speculate that this current price trend indicates an accumulation phase in anticipation of the upcoming halving event.
Bitcoin has made a remarkable comeback from its recent downturn, indicating a positive outlook and the possibility of a solid foundation. The original cryptocurrency is trading at $26,416, displaying a momentum that implies a balance between the bullish and bearish forces.
