- Bitcoin (BTC) chart moves to show a green candle.
- This green candle came after 9 consecutive red candles.
- Many are expecting the price of Bitcoin to reach $35,000 soon.
Popular Twitter page — Bitcoin Magazine, highlights an interesting observation within the price charts of Bitcoin (BTC). Over the last weeks, the candles on the chart have been blindingly red.
As we can see from the tweet above, Bitcoin (BTC) has had a rocky 9 weeks. Also highlighted in the tweet is the fact that the current signal for Bitcoin (BTC) and its price seems to be moving in a good direction.
Presently, the green signal for Bitcoin (BTC) proposes renewed hope for many traders. At the time of writing, the price of Bitcoin (BTC) is $30,653. Indeed, this is a 5.1% increase for the price over the last 24 hours.
By exploring the tweet further, we can see that the comments and other engagements to the tweet are quite positive and full of hope. In fact, one trader highlights that BTC is looking good. Furthermore, the user says that BTC is now well on its way to $35,000.
However, the same user mentions that once Bitcoin goes back to $35,000, then that’s when the real show will begin. For instance, the price will either continue to rise or the crypto community will have to brace itself for another new low.
The latter is indeed disheartening news to many. Although, the crypto community is known to make the best out of their dips, historically. Still, many continue to keep a close eye on the volatile market before making any decisive moves.
Similarly, another user says that 9 candles alone is nothing in comparison to the bigger picture. He then draws attention to a much larger chart that showcases Bitcoin’s long-term gains. Thus, once more igniting further discussions in the comments. In particular, some say Bitcoin’s promise to decentralize is slowly dying as more banks and corporations invest in the asset.
Meanwhile, others in the community are simply excited to be a part of history as they continue to support Bitcoin and its original ideology of bringing financial freedom to the unbanked and underbanked.
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