Bitcoin (BTC) on course for $34,000, thanks to this bullish pattern: analyst

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After the flagship cryptocurrency, Bitcoin, surged above the $30,000 level earlier today, various experts have shared their views and said that BTC is on course to rise higher.

Meanwhile, whales have started moving huge amounts of Bitcoin, and some are moving BTC to exchanges to lock in huge profits.

Bitcoin is still on course for $34,000, the analyst believes

Crypto trader and analyst Ali Martinez has tweeted that his earlier prediction of Bitcoin’s price rise continues to play out thanks to the bullish megaphone pattern. It is formed on a chart by a series of higher highs and lower lows which, if a line is drawn along the upper and lower edges of the image, looks like a megaphone.

Last week, Martinez stated that thanks to this pattern, Bitcoin is in for a bullish weekend. Now the price has broken above the $30,000 level for the first time in the last 10 days. The analyst added in the tweet that “the bullish megaphone pattern continues to dictate $BTC’s trajectory.”

Bitcoin “34k -> 30k -> 42k”

In a recent exchange of comments with crypto influencers and founder of Gokhshtein Media David Gokhshtein, the co-founder of King Finance @OfficialTravlad shared his views on the next move of the Bitcoin price.

He said he thinks Bitcoin will continue to rise towards $34,000, then he expects a bounce back to the $30,000 level. After this, according to his comment, he expects BTC to top the $42,000 mark.

Yesterday, Gokhshtein caught the community’s attention as BTC approached $30,000, but he said he expected a pullback before this price mark. His expectations were not fulfilled.

At the time of writing, digital gold is trading at $30,129, according to CoinMarketCap data, after a 6.31% increase in the past 24 hours.

$655 million in Bitcoin moved

Santiment on-chain data provider has detected 11 huge transactions, with approximately 2000 BTC. In total, they moved 22,000 Bitcoins worth $655 million. These whales became active after Bitcoin has crossed the $30,000 mark.

The transactions were continuous and occurred at short intervals. Another whale, or possibly one of the aforementioned — there are no specifics on that — sent 2000 Bitcoins from the wallet to a Binance address, probably to sell this crypto and withdraw profits.

Moreover, Bitcoin is currently one of the four most popular crypto coins on social media platforms.