Bitcoin (BTC) Above 200 WMA, Crypto Analysts Recommend This Level For Breakout

Bitcoin (BTC) price soars above $22,000 amid the market-wide recovery today. The 5% rally pushed the price above the $22,300 mark, the crucial 200-Week Moving Average (WMA). Crypto analysts believe Bitcoin could gain bullish momentum if it surpasses $22,800.

Bitcoin (BTC) Price Above $22,800 Confirms Bullish Rally

The Bitcoin (BTC) price jumps more than 5% today to break above the $22,000 psychological level. In the last 24 hours, Bitcoin made a low and high of $20,778 and $22,430, respectively.

According to crypto analyst PlanB, the BTC price can rally above the $30k level by September if the price holds above the $22.3k level, 200WMA and Realized price, until the end of July. He said:

“BTC $22.3K, back above 200WMA and Realized price. If this holds until July close, it would not surprise me if we complete the upside-Bart-pattern (hallmark of a large liquidation sale) back to $30K before Sep close. And then back to business from there.”

In fact, another crypto analyst Rekt Capital believes Bitcoin needs to surpass the $22,800 level to confirm a breakout. In a recent tweet on July 18, he claimed that the price could fall below the 22,000 level for a healthy upward price movement. A retest of $21,800 on the top of the wedging structure can be seen.