Bitcoin Reaches the Moon on Binance.US – All cryptocurrency enthusiasts dream of one day seeing Bitcoin surpass the psychological threshold of $100,000. We can say that it is done, even if it lasted only a few seconds. Bitcoin reached $138,000 on Binance.US before following the real price of Bitcoin. Yesterday, the price of Bitcoin reached the symbolic bar of $30,000. With this violent upward movement, many selling liquidations were recorded.
Bitcoin price climbs 0.8% in 24 hours
Bitcoin price is currently trading below $30,000but it remains increase of 0.8% in 24 hours:
Within a week, Bitcoin shows a increase of nearly 20%. In six months, the course is in increase of nearly 80%. The BTC/ETH pair 1.5% drop in 24 hoursbut it remains increase of almost 5% in one week. Is the King of Cryptocurrency Losing Ground to Ethereum?
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The price of Bitcoin explodes on the rise, and the sellers are liquidated
Yesterday, you should not have been one of the traders who bet low on Bitcoin. Indeed, with this violent upward movementnumerous sellers got liquidated :
According to data from the Coinglass website, this is the bloodiest day for sellers since March 25, 2023. In fact, the market recorded $80 million in liquidations on the side of the sellers. This amount is higher than the seller liquidations recorded on April 26. If we add the liquidations on the altcoins, the market liquidated almost $180 million on the side of the sellers.
Bitcoin price stalls at resistance level at $30,500
Bitcoin marks a stop at the level of the resistance at $30,500. For the moment, the price is evolving at the level of the rack at $29,800 :
The price must hold this level of support to try to return to the level of the resistance at $31,500 (green arrow). The price could rebound to the level of the institutional bias (EMA 9/EMA 18) bullish. Beware, if the support breaks, it could quickly move towards the next level of support located at $28,500. For its part, the RSI is always bullishbut he is in overbought zone.
The price of Bitcoin experienced a strong upward movement which allowed the price to return to $30,000. With this movement, many liquidations were recorded on the seller’s side. This is the strongest day of selling liquidations since March 25th. In 4H time frames, BTC needs to hold the support at $29,800 to avoid falling towards the next support at $28,500. Can the king of cryptocurrencies continue its momentum?
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