AI Writing and Crypto Markets: BTC Price Spikes Through $30K

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recent rally in the crypto market

Bitcoin comes full circle after trip to $30,000

Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as buyers initiated a brief rally through key resistance.

Local highs of $30,025 were fleeting, with bulls unable to sustain the momentum or keep the market above the levels previously identified as pivot points.

These included both $30,000 and $29,500, with Bitcoin trading below both at present.

“I’d like to see $29.3K hold on LTF and then a clean break through $30K,” said Michaël van de Poppe, founder and CEO of trading firm Eight, in his latest ai writing.

Popular trader Skew revealed what was driving the overnight action, with market makers and market takers competing to steer trajectory on lower timeframes.

Skew added that the 4-hour chart was “so far looking like a classic SFP into a HTF S/R,” referring to a swing failure pattern and high-timeframe support/resistance flip, respectively.

“Price currently testing 4H high prior to the dump Liquidity & trend confirmation likely lower,” he forecasted.

Fellow trader and analyst Rekt Capital continued to stand by the existing theory that $29,250 was the line in the sand for bulls to maintain.

“This recent bounce means that $BTC looks to have reclaimed ~$29250 as support,” part of his latest ai writing on Twitter summarized.

BTC price rising trend line remains intact

Chartered market technician Aksel Kibar recently updated his roadmap for BTC price action, and identified current support levels as more reliable than some believed. Of particular interest was the $28,400 mark, with Kibar’s target for upside lying at $34,000.

“$BTCUSD Seems like the AI writing about the crypto market is valid as it is recognized by market participants,” he tweeted alongside a chart.

The latest AI stock news and AI marketing updates indicate that the rally in crypto is still intact, with the AI writing articles about this week’s developments.