Bitcoin surfs $30K as traders hope US trading will boost BTC price

Trader and analyst Rekt Capital restated that the total picture for Bitcoin stayed one of strength, with any possible retracements set to be shallow in nature.”When a BTC correction ends so convincingly … Its extremely unlikely another deep correction occurs right after,” he reasoned. Source: TradingViewMagazine: Gary Genslers task at danger, BlackRocks first spot Bitcoin ETF and other news: Hodlers Digest, June 11– 17This post does not contain investment recommendations or suggestions.

On-chain analytics firm Glassnode validated the trend, suggesting that it might form part of a more long-lasting shift thanks to the U.S. exchange-traded fund (ETF) filings.” As a gold rush of institutional-grade ETF applications are submitted in the United States, we have actually seen early indications of a revival of US-led need,” it wrote in the most recent edition of its weekly newsletter, “The Week On-Chain.” “This comes after a duration of weaker relative United States demand in 2023, with leading exchanges in Asia seeing the greatest accumulation year to date.” BTC/USD annotated chart. Source: Daan Crypto Trades/TwitterAnalyst: Snap BTC rate correction “extremely unlikely” Turning to BTC price performance itself, trading suite Decentrader flagged a crucial resistance level now overhead.Related: BTC price up, basics down? 5 things to understand in Bitcoin this weekThis came in the kind of its two-year moving average (MA) at simply above $32,800.” Historically, beneath the 2 Year MA has actually provided a wonderful accumulation opportunity ahead of the following halving cycle,” part of Twitter analysis stated.An accompanying chart showed the 2-year MA plus the pattern line reflecting five times its value, recommending upside follows breakouts above the former.BTC/ USD annotated chart with moving average information. Source: Decentrader/TwitterShorter timeframes also revealed a lack of interest in shorting BTC at existing levels, increasing hopes of a resumption of the uptrend.Others continued to search for possible opportunities to “purchase the dip,” with popular trader Crypto Chase giving $29,000 as an example.$ BTC $ETHThese charts are not necessarily forecasts, but rather where I see chance and am aiming to operate. pic.twitter.com/xqHv2QhZJr— Crypto Chase (@Crypto_Chase) June 26, 2023

Bitcoin (BTC) circled $30,500 at the June 26 Wall Street open as bulls held newly found support.BTC/ USD 1-hour chart. Source: TradingViewBitcoin ETF hype puts needs on U.S. sessionData from Cointelegraph Markets Pro and TradingView showed BTC cost action maintaining $30,000 around the weekly close.The largest cryptocurrency began the week on a stable note as U.S. markets started trading, with observers hoping for a copycat relocation from the week prior.Then, the U.S. had provided the lions share of buyer interest, following several statements of institutional product applications based on the Bitcoin area rate. Source: Decentrader/TwitterShorter timeframes also showed an absence of interest in shorting BTC at current levels, increasing hopes of a resumption of the uptrend.Others continued to look for potential opportunities to “purchase the dip,” with popular trader Crypto Chase providing $29,000 as an example.

Bitcoin (BTC) circled $30,500 at the June 26 Wall Street open as bulls held newfound support.BTC/ USD 1-hour chart. Source: TradingViewBitcoin ETF hype puts needs on U.S. sessionData from Cointelegraph Markets Pro and TradingView showed BTC cost action keeping $30,000 around the weekly close.The largest cryptocurrency started the week on a stable note as U.S. markets started trading, with observers hoping for a copycat relocation from the week prior.Then, the U.S. had offered the lions share of buyer interest, following numerous announcements of institutional product applications based on the Bitcoin area cost.