Bitcoin

Silk Road

<html>
 <head></head>
 <body>
 The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/bullish-targets-emerge-for-the-bitcoin-btc-price-while-it-lingers-around-30500/">Bullish Targets Emerge for the Bitcoin (BTC) Price While it Lingers Around $30,500</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
 The crypto markets <a href="https://coinpedia.org/bitcoin/bitcoin-confuses-investors-with-consolidation-below-31k-will-cpi-data-bring-breakthrough-moment-for-btc-price/" target="_blank" rel="noopener noreferrer nofollow">failed to react positively to the release of the fresh CPI rates</a>, which were as expected. The rates have dropped to 3%, which is very positive for the crypto markets, especially Bitcoin. However, the price continues to trade within a narrow trend after undergoing a correction after the CPI rates were announced. Besides, the rounds of the <a href="https://coinpedia.org/news/us-government-transfers-over-9800-silk-road-bitcoins-should-you-sell-btc-before-a-dip/" target="_blank" rel="noopener noreferrer nofollow">US government selling Silk Road Bitcoins</a> have also created a sense of fear among the market participants.&nbsp; 
 Regardless of the prevailing conditions and the trade setup, the Bitcoin price continues to flash bullish signals, unveiling the possibility of surging beyond $40,000 in the near future.&nbsp; 
 The Bitcoin price has maintained a huge upswing in the long term and is pretty far enough from the retrace point or the interim lows. The bulls, who have managed to hold the price above $30,000, are manifesting acute strength and their strong intention of maintaining a healthy upswing ahead. A popular crypto analyst, CryptoCon, believes that the BTC price may soar beyond $35,000 in the next few weeks.&nbsp; 
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> continues its uptrend, in a much healthier way than the parabolic rally of 2019 Two targets loom according to the Fibonacci Retrace The first: $36,354 (.5) And according to the last cycle, the .618: $41,298 How much do the stars have to align for you to believe? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2728.png" alt="✨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/22dnofGIrg" rel="noopener noreferrer nofollow">pic.twitter.com/22dnofGIrg</a>— CryptoCon (@CryptoCon_) <a href="https://twitter.com/CryptoCon_/status/1679151279225073664?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 12, 2023</a> 
 </blockquote> 
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div> 
 </figure> 
 The analyst here compares the 2019 rally with the current rally, as they both have been displaying huge similarities. In 2019, the price rebounded from the retrace point, which is the bottom of the bear market and soared high to reach the 1 FIB level. If the recent bottoms below $16,000 are considered lows for the 2022 bear market, then the 1 FIB levels come close to $60,000. While the initial targets remain around 0.5 FIB levels at $36,000 and 0.618 FIB levels at $41,000.&nbsp; 
 In times when the Bitcoin price continues to chop around a certain range, traders ought to become less active, which may hamper volume and volatility. In such a case, the possibility of a bullish breakout appears to be pretty low. But considering the previous price action, the star crypto is believed to shake the markets with giant price action soon.&nbsp;
 </body>
</html>

Bullish Targets Emerge for the Bitcoin (BTC) Price While it Lingers Around $30,500

CoinPedia News

Other articles published on Jul 12, 2023

Potential Massive Sell-off Looms for Renowned Altcoin

Does Crypto Need Another Twitter? Here’s What We Learned From Looking At 100+ Top Brands In the I...

Bitcoin’s Recovery and the Potential Upsurge of Altcoins

Pro-XRP Lawyer Discusses BTC ETF Filings and Forecasts Market Shifts

XRP Price Poised for a Significant Move, Bitcoin Advocate Anticipates $10 Target Price

Shiba Inu: BONE Targets $2 on Back of Shibarium Launch

Join our free newsletter for daily crypto updates!