BTC Price Soars to $27.3k, A surge to $28,200 might pave the way for a retest of the key $30k mark if the price rises. In the event of rejection, the $25k area would be retested before recovering.
- Bitcoin has broken above $26,300 for the first time since August 31.
- With the gains, LINK is up more than 15% in the past week and hit $6.81.
For the first time since August 31, Bitcoin is back above $27,300, while Chainlink (LINK), whose price has just risen to above $6.80, is currently topping the top 20 cryptocurrencies by market size. The top cryptocurrency Ethereum has reached highs above $1,670 in other markets as the mega caps advance toward what is expected to be a turning point week for mood in the risk asset markets.
Can BTC price break higher?
The benchmark cryptocurrency’s Monday gain helps bulls feel a little more optimistic again. Crypto experts have recognized the potential for a retest of a significant level and the invalidation of a double-top pattern with intraday highs near $27.4k.
In contrast to a price rejection at the immediate resistance and a failure to consolidate above the 200-week MA, a forceful breakout that converts the barrier into support is the more likely scenario. After BTC signaled the Death Cross on the daily chart and saw a bearish monthly closure candle as the price remained below $27k, the upward viewpoint would be critical.
A surge to $28,200 might pave the way for a retest of the key $30k mark if the price rises. In the event of rejection, the $25k area would be retested before recovering.
LINK price up
The greatest gainer so far today has been Chainlink, which increased by almost double digits as the intraday price reached highs of $6.81 on all major cryptocurrency platforms. The bullish push over the $6.40 region has aided the breakthrough, which came after LINK went back to the $5.50 region.
If prices keep rising, LINK/USD might surge closer to $8.00, adding to the weekly gains of more than 15%. This is what cryptocurrency analyst Michael van de Poppe believes will likely happen.