- Bitcoin breaks $30k, a 2-month high, with an 11% weekly gain.
- Top chartist opens long positions and predicts a $41k target.
- The chartist identifies a diamond pattern, expects a bullish breakout, and watches the $31k resistance.
In the last 24 hours, the largest crypto project, Bitcoin (BTC), broke the $30k price point for the first time in two months. While Bitcoin has momentarily dipped to $29,917 at the time of writing, its seven-day performance stands significantly at over 11%.
Amid Bitcoin’s appetizing performance pushing the overall digital asset market into a greenish trend, prominent chart analysts are projecting that market participants can expect even greater bulls in the coming days.
Specifically, The Moon, a renowned crypto analysis YouTube channel, argued that Bitcoin’s chart patterns have formed a diamond pattern. The presenter, Carl, noted that the formed pattern was based on Bitcoin’s weekly timeframes. He illustrated how the Bitcoin weekly price charts ticked all the boxes for a diamond pattern with a big move to the upside and another in the middle alongside a horizontal tilt.
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