Bitcoin (BTC) made a strong move higher on September 27, with one analyst predicting that the cryptocurrency will reach $30,000 in October. The price of BTC climbed 2% to near-weekly highs, reaching $26,823 on Bitstamp. Market commentators anticipate a breakout if overhead resistance remains thin. On-chain monitoring resource Material Indicators reported increased activity from a class of whales known to impact BTC price action. The move above $26,500 invalidated a warning signal from a “death cross” pattern on the daily chart. Another analyst believes that if BTC reaches $26,500, $30,000 will be the next target. Short liquidations in the crypto market remained modest, with $13 million in BTC shorts liquidated on the day. BTC/USD traded at around $26,700 at the time of writing.
BTC Price Reaches $27,000 as Analyst Predicts $30K in October
Bitcoin (BTC) has experienced a 2% surge in price, reaching near-weekly highs of $26,823 on Bitstamp. An analyst predicts that the cryptocurrency will climb to $30,000 in October if it reaches the crucial level of $26,500. Market commentators are closely observing the thin overhead resistance and anticipate a potential breakout. On-chain monitoring resource Material Indicators has noted increased activity from a specific class of whales that are known to have a significant impact on BTC price action.
Crypto Market Avoids Massive Liquidations as BTC Price Rises
Short liquidations in the crypto market have remained modest, with approximately $13 million in BTC shorts being liquidated on the day, contributing to a total cross-crypto tally of $39 million. The price of BTC currently hovers around $26,700. As volatility persists, crypto traders are closely monitoring the market movement.
What is the price prediction for Bitcoin in October?
One analyst predicts that the price of Bitcoin will reach $30,000 in October if it can surpass the crucial level of $26,500.
What is the current price of Bitcoin?
At the time of writing, Bitcoin is trading at around $26,700.
How much Bitcoin shorts have been liquidated?
On the day, approximately $13 million in BTC shorts were liquidated, with a cross-crypto tally of $39 million.
Why are market commentators anticipating a breakout in Bitcoin’s price?
Market commentators are closely watching the thin overhead resistance and believe that if it remains thin, a breakout is likely to occur.