Bitcoin traders say BTC price will soon break beyond $31K yearly highs

Source: Jelle/TwitterPopular trader and expert Rekt Capital, on the other hand, considered similarly appealing indications on month-to-month timeframes ahead of the June 30 regular monthly candle close.” BTC is positioning itself for a Monthly Close above a resistance that had rejected cost for the past 3 months. And now BTC is holding conveniently above that very same level (black),” he commented on an explanatory chart.BTC/ USD annotated chart.

Bitcoin (BTC) terminated a fresh attempt to reach $31,000 on June 29, while traders waited for bulls to succeed.BTC/ USD 1-hour chart. Source: TradingViewBTC price “primed to release” Data from Cointelegraph Markets Pro and TradingView revealed BTC price action declining to leave its short-timeframe trading range.Now captured in between $30,000 and $31,000, BTC/USD lacked motivation to continue the previous weeks uptrend or reverse downward.For market individuals, however, there was progressively factor to believe that flipping higher resistance levels to support would come next.It is very most likely that #Bitcoin will reach the N28CT target of $34,500 in the next push higherMy model has actually nailed every forecast because its creation-Bottom in Nov 2022-Best cycle purchasing costs in green yearTime to accumulate is coming to an end.” BTC is positioning itself for a Monthly Close above a resistance that had turned down rate for the past three months.

Financial commentator Tedtalksmacro recommended that there would be limited crypto market motion up until the expiry.Magazine: Bitcoin is on a clash with Net Zero promisesThis short article does not consist of financial investment guidance or suggestions. Every financial investment and trading relocation includes threat, and readers should perform their own research study when making a decision.

Bitcoin (BTC) aborted a fresh attempt to reach $31,000 on June 29, while traders awaited bulls to succeed.BTC/ USD 1-hour chart. Source: TradingViewBTC cost “primed to introduce” Data from Cointelegraph Markets Pro and TradingView revealed BTC cost action declining to leave its short-timeframe trading range.Now captured in between $30,000 and $31,000, BTC/USD lacked inspiration to continue the prior weeks uptrend or reverse downward.For market individuals, nevertheless, there was significantly reason to think that flipping higher resistance levels to support would come next.It is really most likely that #Bitcoin will reach the N28CT target of $34,500 in the next push higherMy model has actually nailed every prediction since its creation-Bottom in Nov 2022-Best cycle purchasing prices in green yearTime to accumulate is coming to an end. https://t.co/Lg9LBcoDad pic.twitter.com/HF7EwWNpKZ— CryptoCon (@CryptoCon_) June 29, 2023

Other Questions People Ask

What do Bitcoin traders predict about BTC price breaking beyond $31K yearly highs?

Bitcoin traders are optimistic that BTC price will soon surpass the $31,000 mark, as indicated by recent market analyses. Popular trader Rekt Capital noted that BTC is positioned for a monthly close above a resistance level that has previously rejected price for three months. This suggests that traders are anticipating a bullish trend, especially as BTC holds above critical support levels.

How are Bitcoin traders assessing the current BTC price movement around $31K?

Traders are closely monitoring BTC's price action as it fluctuates between $30,000 and $31,000, indicating a lack of momentum in either direction. Data from Cointelegraph Markets Pro and TradingView shows that while BTC attempted to reach $31,000, it has not yet gained the necessary traction to continue its upward trend. However, many traders believe that flipping higher resistance levels to support could signal a forthcoming price increase.

What factors are influencing Bitcoin traders' expectations for BTC to exceed $31K?

Several factors are contributing to Bitcoin traders' expectations for BTC to break beyond $31K, including technical indicators and market sentiment. Rekt Capital highlighted the potential for a monthly close above significant resistance, which could encourage bullish momentum. Additionally, forecasts suggest that BTC may target $34,500 in the next upward push, further fueling trader optimism.

What should traders consider before BTC attempts to break the $31K barrier?

Before BTC attempts to break the $31K barrier, traders should consider market conditions and resistance levels. The current trading range between $30,000 and $31,000 indicates a period of consolidation, which could precede a breakout. It's essential for traders to analyze market trends and be prepared for potential volatility as BTC approaches these critical price points.

What insights do Bitcoin traders have regarding the potential for BTC price growth?

Bitcoin traders are increasingly confident in the potential for BTC price growth, particularly as it holds above key resistance levels. Analysts like Tedtalksmacro suggest that significant market movements may be limited until certain conditions are met, but the overall sentiment remains bullish. With predictions indicating a possible rise to $34,500, traders are advised to stay informed and ready to act as market dynamics evolve.