The road to $30000 is open for bitcoin
The first cryptocurrency can successfully contain pressure at significant points. Growth to $30000 ahead
A bullish contracting triangle formed with resistance at $26800 was broken earlier. However, increased bearish pressure pushed BTC down to near the $26500 support level.
This could lead to a breakout of the lower support level. That is why it is so important that the bull traders survive the bears over the next two weeks. If this happens, it will be easy to get $30000 for 1 BTC.
#Bitcoin $BTC is advancing in parabolic move from Sep '20 low. I expect this curve to be violated at some point, but not to produce 80% decline. Green curve is a larger parabolic advance from Dec 2018 & Mar 2020 lows. This is the driver of bull market. pic.twitter.com/TtxXMnib9L— Peter Brandt (@PeterLBrandt) December 27, 2020
Users on Twitter are massively discussing the opportunities that open up for bitcoin. Some believe that a decline to $20000 is possible to retest the previous all-time high.
Others, like Vijay Boyapati, write that there is a bullish rally ahead. The reason is the interest in BTC from institutional investors. In his tweet, it is written that earlier it took bitcoin 8 years to rise in price by $2000, and in recent weeks, bitcoin has risen in price by 2000 per hour.
In his opinion, the maturation of the market is behind the ongoing rally. thanks to the entry of large investors. The road to $30000 is open. Considering how Bitcoin whales have become more active in 2020, this does not seem so unusual.