Bitcoin price to $30K in October, says analyst as BTC price climbs 2%
Bitcoin (BTC) broke higher into the Sept. 27 Wall Street open as one analyst predicted a return to $30,000 in October.
Data from Cointelegraph Markets Pro and TradingView followed BTC price action as bulls gathered steam to reach $26,823 on Bitstamp.
The 2% jump to near-weekly highs came as market commentators already eyed thin overhead resistance, with a breakout on the cards should it not be replenished.
“Ask liquidity is pretty wide and thin here again so likely a move higher is going to come from perps,” popular trader Skew explained, continuing the topic.
Skew added that “this can create some good opportunities with inefficiencies & potential premiums later.”
$BTC Binance Spot / Binance Perp
Pretty clear predatory move in the making pic.twitter.com/qJI2WFvizx
lol https://t.co/xlWnrxLmTD pic.twitter.com/kPPKlfLj0Z
On-chain monitoring resource Material Indicators revealed an uptick in activity from one specific class of whales well known for its impact on BTC price action (PA).
Material Indicators further noted that the move above $26,500 had invalidated a warning signal that came on the back of a daily chart “death cross” at the start of the week.
“Purple buys dips and sells rips. I’m happy to swim in their wake,” co-founder Keith Alan confirmed.
#FireCharts integrates a CVD chart binned by order class which shows that historically, the Purple Class of Whales with order sizes in the $100k - $1M range have had the most influence over #Bitcoin PA. pic.twitter.com/gWPefQya05
“There we go, Bitcoin is up and breaks above crucial areas,” analyst Michaël van de Poppe told X subscribers in part of the day’s coverage.
Data from monitoring resource CoinGlass meanwhile confirmed that short liquidations remained modest.
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