Popular cryptocurrency analyst Pentoshi believes that Bitcoin’s recent growth may well continue, and its rate could reach $32,500, the highest value since May 2022.
Pentoshi builds his hypothesis on the fact that the rate of the first cryptocurrency did not fall below the important level of $25,000, and then overcame the resistance of $26,700 without any problems. Now Bitcoin is trading around an important psychological level of $30,000, and, according to the cryptanalyst, BTC is still did not lose the upward momentum.
$BTC to 32.5k on HTF’s
HL at must hold level 25k
Reclaimed and then retested 26.7k https://t.co/chY4OIzSMr pic.twitter.com/BN2uuSXRuz— Pentoshi 🐧 euroPeng 🇪🇺 (@Pentosh1) June 21, 2023
At the same time, Pentoshi emphasized that it is still premature to talk about a full-fledged and large-scale reversal – it is necessary for Bitcoin to gain a foothold above $31,000, this is the maximum value of BTC in 2023.
The crypto trader also noted that there have been several events in the financial industry in recent days that play into the hands of bitcoin. We are talking about BlackRock filing an application for a spot ETF for bitcoin. Then the SEC received several more similar applications. This, according to Pentoshi, should push the demand for the first cryptocurrency.
Previously, Pentoshi said that during the next bull cycle, traders need to take a closer look at gaming project tokens.
Source: Cryptocurrency
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