BTC price is on the right track as it surges above $30,200

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Bitcoin revisits $30,500 resistance zone as it breaks above $30,200 – Apr 12, 2023

Bitcoin (BTC) was losing value after peaking at $30,575 but rises above $30.2K. The cryptocurrency asset pulled back to a low of $29,689 before the rally. Bitcoin’s risk decreased as it traded in the overbought region of the market. It will appear that the sellers are lowering the prices in the overbought area.

Bitcoin Price Stats Data:
•Bitcoin price now – $30,137.16
• Bitcoin Market Cap: $582,871,344,815
•Bitcoin circulating supply – 19,344,731 BTC
•Total Bitcoin Supply – $633,019,433,668
• Bitcoin Coinmarketcap Ranking – #1

Resistance levels: $50,000, $55,000, $60,000
Support levels: $25,000, $20,000, $15,000

Bitcoin (BTC) price is now pulling back after crossing the psychologically significant $30,000 mark. The cryptocurrency is pulling back because the overbought area of the market has been reached. The price will resume its uptrend if it returns above the 21-day SMA. During the first pullback, the BTC price started to fluctuate above the $29,689 support again. If the bears break below the current support, Bitcoin will pull back below the 21-day SMA. The uptrend will resume if Bitcoin finds support above the moving average lines. The psychological price barrier of $30,000 will be overcome by the price of the cryptocurrency. According to the price indicator, the bullish momentum will continue above the high of $31,000. The Relative Strength Index for the 14 period shows that Bitcoin is still in the uptrend zone at the 67 level. The crypto asset may go further.

Bitcoin is just a gambling token and has no intrinsic value: Mr. Warren Buffet

The old man compared Bitcoin to roulette, sports betting and chain cards and claimed that there has been a “gambling explosion”. On April 12, Warren Buffett did another anti-crypto interview with CNBC’s Squawk Box, playing the well-known role of him as a FUD train conductor. The tycoon described the cryptocurrency market to CNBC as “an explosion of gambling.” I like to bet on a football game when I’m sitting and watching because it makes it more interesting, he continued. However, I don’t think I want to try to play the house for a living. In a separate 2014 CNBC interview, Buffett predicted the future of Bitcoin, saying that he “wouldn’t be surprised if Bitcoin doesn’t exist in 10 or 20 years.” He also claimed that Bitcoin could not be considered a form of money at the time because it “inevitably is based on the value of the dollar.”

BTC/USD – 4 hour chart

The BTC price is currently on track as it tops $30.2K. The cryptocurrency is currently testing the psychological $30,000 price level again. In the uptrend on April 11, the body of a retracement candlestick tested the 78.6% Fibonacci retracement level. The retracement indicates that BTC will rise but reverse course at the 1,272 Fibonacci extension level, or $31,342.

Bitcoin Alternatives

Bitcoin returns to its psychological price level of $30k. BTC price will accurately test or break the $30,550 resistance level. The value of the crypto will increase to $31,000. As a result, the value of other cryptocurrencies will rise, including Love Hate Inu (LHINU) tokens. LHINU’s outstanding performance will lead to a further increase in its value. To secure your tokens before the price increases, don’t forget to buy some LHINU during stage 4 of the pre-sale. Act now because time is running out. There are less than two days left in stage 4, so be sure to pre-sale now. Also, Stage 5 is bringing something HUGE, so stay tuned and buy something from LHINU. Buy for just 0.05 BNB. Over $4 million has already been raised.

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