- Ali, a crypto trader and analyst, tweeted an update to the buy opportunity that presented itself on BTC’s chart 2 days ago.
- In his latest tweet, the analyst revealed that BTC climbed 3.39% in the 24 hours that followed the signal.
- At press time, BTC was trading at $30,148.27 after its price dropped 1.77% over the past 24 hours.
The crypto trader and analyst Ali tweeted an update to his Bitcoin (BTC) analysis which revealed a potential buy opportunity on the crypto’s 4-hour chart on Wednesday. In the tweet published 2 days ago, the analyst noted that the TD Sequential indicator presented a buy signal on BTC’s 4-hour chart that could result in the crypto’s price climbing to $30,750.
In his latest tweet yesterday, Ali shared that the buy opportunity had played out and the market leader’s price rose to $31,415.90 in the 24 hours that followed. During this period, BTC’s price rose approximately 3.39%.
At press time, BTC’s price had retraced slightly from its price at the time the second post was made to trade at $30,148.27 at press time. This was after it experienced a 1.77% drop over the past 24 hours. Furthermore, the negative daily performance pushed BTC’s weekly performance into the red as well. As a result, BTC was down 1.63% over the past 7 days.
Despite the price drop, BTC was able to make its way onto CoinMarketCap’s trending list at press time, and occupied the number 1 position. Its dominance in the market was also up 0.26%, which pushed BTC’s dominance to around 49.95% at press time.
From a technical perspective, BTC was resting on the 20-day EMA line, which was the last minor support protecting the crypto from a price drop to the crucial support level at $29,490. Should the market leader’s price break below the technical indicator in the coming 24-48 hours, then it will most likely look to retest the key support level in the next few days.
A break below the $29,490 support may put BTC at risk of falling to the 50-day EMA line which was around $28,670 at press time. On the other hand, if BTC’s price can close a daily candle above the 9-day EMA line at approximately $30,400 in the next 48 hours, then the crypto may look to test the major resistance level at $31,270 in the coming week.
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