Bitcoin (BTC) hit $38,000 on June 2 as a long-awaited bout of volatility saw a critical bull level return.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTrader has “strong belief” in upside incoming
Questions were even being asked as to whether $30,000 would stay as support, with a potential further price dip set to take in $20,000 or worse.
With the latest gains, however, the mood noticeably lifted.
“Important update: past week I showed the bearish pennant and what are the possible scenarios… We just made a new high, meaning BTC is doing 5 legs up in this current move and opening the gates for more upside,” popular trader Crypto Ed tweeted in his latest update on the day.
“I strongly believe we break out to the upside coming days.”
Crypto Ed was one of a number of traders calling for a bullish