Bitcoin (BTC) Breaks $34,000 Thanks To Powerful Bullish Pattern

Key Points:

• Bitcoin has surged above $30,000 and is predicted to continue rising thanks to the bullish megaphone pattern.
• Whales are shifting massive amounts of Bitcoin to exchanges, indicating an upward trajectory.
• David Gokhshtein believes Bitcoin will continue its upward trend toward $34,000, with a pullback to $30,000 before reaching $42,000.

Bitcoin, the flagship cryptocurrency, has surged above the $30,000 level, and this has led to various experts sharing their insights on where the price of BTC is headed.

Crypto trader and analyst Ali Martinez is one such expert who has predicted that Bitcoin’s price will continue to rise thanks to the bullish megaphone pattern. This pattern is formed on a chart after a series of higher highs and lower lows, and when lines are drawn along the upper and lower borders of the picture, it looks like a megaphone. Martinez stated last week that Bitcoin is in for a bullish weekend thanks to this pattern, and it appears that his prediction has come true as the price has broken above the $30,000 level for the first time in the past 10 days.

In addition to the price surge, some whales have started shifting massive amounts of Bitcoin and moving BTC to exchanges to lock in big profits. This trend is a significant indicator that Bitcoin’s price is on an upward trajectory. According to Martinez, the bullish megaphone pattern continues to dictate BTC’s trajectory. This is good news for investors and traders looking for promising opportunities in the crypto market.

Bitcoin “34k -> 30k -> 42k”

David Gokhshtein, a crypto influencer and founder of Gokhshtein Media, co-founder of King Finance @OfficialTravlad shared his opinion on the future of the Bitcoin market. He believes that BTC is going to continue its upward trend towards $34,000. However, he also expects a pullback to the $30,000 level before the price of BTC continues to rise and top the $42,000 mark.

Yesterday, Gokhshtein caught the attention of the community as BTC approached the $30,000 mark. He predicted a pullback before reaching this price point, but his expectations did not come true. As of the time of writing, digital gold is trading at $30,129, according to CoinMarketCap data. This represents a rise of 6.31% over the past 24 hours.

Santiment, an on-chain data vendor, has identified 11 transactions involving enormous amounts of BTC. These transactions moved roughly 2,000 BTC each, totaling 22,000 Bitcoins worth $655 million. Interestingly, these whales became active after BTC surpassed the $30,000 mark. The transactions occurred consecutively and at short intervals. Additionally, one of these whales sent 2,000 Bitcoins from their wallet to a Binance address, likely to sell this crypto and withdraw profits.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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