Since the crypto bubble of 2017-2018, investors have been waiting for Bitcoin to surmount its $20,000 all-time high.
While BTC reaching a price above $20,000 seems to be a quixotic dream at best, a prominent cryptocurrency trader has suggested that the cryptocurrency is preparing for a rally to $30,000 — if this one resistance can be breached that is.
Bitcoin Breaking This Crucial Level Could Set Stage for Surge
Brian “Ledger Status” Krogsgard, a prominent cryptocurrency trader with nearly 70,000 followers on Twitter, recently shared the below chart, showing that BTC is in the midst of forming a long-term pennant.
In a message accompanying the chart, the analyst said that Bitcoin breaking above the pennant, whose upper bound currently trades around $12,000, will set a potential surge to $30,000 — more than 200% above the current market price of $9,100. Read More...