Bitcoin

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/btc-price-analysis-rising-amid-bearish-specs-bitcoin-eyes-35k/">BTC Price Analysis: Rising Amid Bearish Specs, Bitcoin Eyes $35K!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a>
Staying on the bullish fast tracks amidst the declining US stock market, Bitcoin skyrockets this Thursday to enter a high-speed rally and cross $30K. The BTC price ignores the 10-year U.S. Treasury yield, taking a 6 basis point jump to reach 4.97%, almost reaching 5%.&nbsp;
Such high interest rates for the 10-year Treasury yield drive the stock market into the bear zone, but Bitcoin (BTC) and altcoins continue the surprise rally. With such rising momentum, the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin price prediction</a> highlights a possibility of reaching the $35K mark.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="478" src="https://image.coinpedia.org/wp-content/uploads/2023/10/20114812/BTCUSD_2023-10-20_10-32-00-1024x478.png" alt="" class="wp-image-238330" srcset="https://image.coinpedia.org/wp-content/uploads/2023/10/20114812/BTCUSD_2023-10-20_10-32-00-1024x478.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/10/20114812/BTCUSD_2023-10-20_10-32-00-300x140.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/10/20114812/BTCUSD_2023-10-20_10-32-00-768x359.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/10/20114812/BTCUSD_2023-10-20_10-32-00-1536x718.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/10/20114812/BTCUSD_2023-10-20_10-32-00-150x70.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/10/20114812/BTCUSD_2023-10-20_10-32-00.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
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Rising higher with the trendline breakout, the BTC price makes a bullish comeback and sustains momentum with improving sentiments. Taking a 9% in the last five days, Bitcoin jumped from $26,800 to $29,240 and continues to aim higher.&nbsp;
With the possibility of rate hikes remaining unchanged next month, Bitcoin prices warm up to enter the halving event bull run. With a retest jump from $28K, the BTC trend action shows two bullish engulfing candles continuing the utprend.&nbsp;
Further, the BTC price displays a rounding bottom reversal that may shortly reach the neckline of $30,000. Currently, the BTC prices trade at $29,242 with an intraday jump of 1.77%.&nbsp;
Technical indicators:
RSI: The RSI line spikes higher with the improving bullish sentiments and approaches the overbought boundary, teasing trend continuation.
EMA: The 50-day and 200-day EMA maintain a bullish alignment, and the sudden reversal in price brings an uptick in the 50-day EMA.&nbsp;
<h2 class="wp-block-heading" id="h-where-is-the-bitcoin-btc-price-heading">Where is the Bitcoin (BTC) Price Heading?</h2>
Investors accumulating Bitcoin at a time when the stock market is taking a bearish hit reflects the market confidence in Bitcoin. Considering the uptrend exceeds the $30,000 mark, $35,000 is the next milestone for the BTC price.&nbsp;
Moreover, with the higher sentiments this ‘Uptober,’ a sentiment fuel rally can cross multiple resistance levels.&nbsp;&nbsp;
On the flip side, despite minimal reversal chances, a pullback is possible if the sellers remain dominant at $30,000. In such a case, the price trend might again test the $28,000 mark.

BTC Price Analysis: Rising Amid Bearish Specs, Bitcoin Eyes $35K!

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