• Bitcoin is poised to potentially surge past the $30,000 mark.
• The digital currency has been consolidating around $28,500 and forming an ascending triangle pattern that suggests an upward move.
• Once it surpasses the $30,000 level, Bitcoin may continue its ascent to the $40,000 price range.
Positive Jobs Report Boosts Bitcoin’s Price
A positive jobs report released recently has boosted expectations for Bitcoin’s price to reach as high as $30,500. Renowned cryptocurrency analyst Michaël van de Poppe believes that if Bitcoin succeeds in maintaining support at the $28,900 level, then a climb towards $30,500 could be facilitated.
74% Increase Since January
Bitcoin has gained 74% since the beginning of this year and briefly broke the $30,000 price level. This momentum suggests that there is potential for further gains in the near future. Currently, Bitcoin is consolidating around $28,500 and forming an ascending triangle pattern which typically indicates an upcoming bull market.
Unemployment News May Impact Price
It should also be noted that important news related to unemployment is scheduled for release soon which could have a direct impact on Bitcoin’s price. If positive news comes out of this report then it could help propel prices even higher than their current levels.
Potential Move Toward $40K
Once Bitcoin manages to surpass the significant resistance point at $30K, its next major resistance level will likely be around $40K meaning there may be little preventing it from continuing its upward trajectory should it break through this barrier successfully.
Conclusion
Michaël van de Poppe’s analysis of Bitcoin’s current price action highlights just how much potential there is for further growth within this asset class in 2021 and beyond; particularly if it can manage to maintain support at key levels such as the one currently being tested at around 28K USD and break through any significant resistance points along its path toward 40K USD or higher!