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Bitcoin reclaims 30k

30 May, 2022

As noted here a short while ago today, when looking at the moves overnight in Ether, Bitcoin has risen back above 30k. The move above that price point has taken it above trend line resistance that defined a sideways pennant formation. It has also lifted above its 21 day moving average too. That is in place right now at 29,573 and pretty much coincided with the top of that pennant. Hence, that appears to have given the move greater momentum. As far as further technical resistance levels are concerned there are a number of minor hurdles from here on, all of them from previous highs. So, next up we have 30,626, then 30,722. After that comes 31,400 and finally 32,130 and 32,635. The range seen so far today has been covered by 29,143 to 32,392. Bitcoin is currently trading at 30,282

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