On X, one trader going by the handle \u201cCryptoJelleNL\u201d is\u00a0<\/span>convinced<\/span><\/a>\u00a0that accumulating Bitcoin below $30,000 can be rewarding. The trader expects prices to not only expand towards all-time highs printed in 2021 at around $69,000 but break above $100,000 in the coming sessions.\u00a0<\/span><\/p>\n Although the analyst didn\u2019t give timelines, the \u201cgame plan remains the same,\u201d acknowledging that it will be a \u201ctough mental battle\u201d before exiting the market when BTC soars above $100,000, nearly 4X at spot rates. <\/span>It is not immediately clear precisely at what price the analyst entered. <\/span><\/p>\n Responding to a tweet, CryptoJelleNL said the strategy is not to buy between $30,000 and around $70,000 because doing so will only increase the average \u201centry-level.\u201d This strategy was proposed by an X user who preferred dollar cost averaging (DCA) using lower capital.\u00a0<\/span><\/p>\n In DCA, an investor makes periodic purchases of a target asset at low costs to dampen the effect of volatility and reduce the overall entry price. This system can be effective for HODLers, like in the case of CryptoJelleNL, and for traders who can\u2019t time the market.\u00a0<\/span><\/p>\n Even so, time will tell whether Bitcoin will eventually recover from spot rates, soaring above $30,000 and July 2023 highs. Looking at price charts, bulls have a chance, at least in the short to medium term.\u00a0<\/span><\/p>\n Prices remain tight, trading above the $25,200 primary support and $28,000 and $30,000 resistance zone. Moreover, trading volumes are lower, suggesting that activity is generally low, with most market participants not keen to engage at spot levels.\u00a0<\/span><\/p>\nWill Bitcoin Break Above $30,000?<\/span><\/h2>\n
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