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The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/btc-price-analysis-btc-crosses-30k-is-this-the-new-bull-run/">BTC Price Analysis: BTC Crosses $30K! Is This The New Bull Run?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a>
As the overall sentiments improve with high anticipations of the Bitcoin ETF approval, Bitcoin continues the recovery rally. Crossing the $30K barrier, the BTC price continues to make the fifth bullish engulfing candle and starts the week with a 2.10% jump.&nbsp;
With the growing demands, the cost to buy 1 Bitcoin (BTC) is rising and may shortly cross the $35K mark. Therefore, with such a rapid increase in demand, the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin price prediction</a> highlights a bullish future.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="478" src="https://image.coinpedia.org/wp-content/uploads/2023/10/23124206/BTCUSD_2023-10-23_10-34-35-1024x478.png" alt="" class="wp-image-238883" srcset="https://image.coinpedia.org/wp-content/uploads/2023/10/23124206/BTCUSD_2023-10-23_10-34-35-1024x478.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/10/23124206/BTCUSD_2023-10-23_10-34-35-300x140.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/10/23124206/BTCUSD_2023-10-23_10-34-35-768x359.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/10/23124206/BTCUSD_2023-10-23_10-34-35-1536x718.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/10/23124206/BTCUSD_2023-10-23_10-34-35-150x70.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/10/23124206/BTCUSD_2023-10-23_10-34-35.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
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With a remarkable reversal from the $25K mark, the BTC price trend shows a growth of 23% in just six weeks. Investors avoid a death cross with this reversal rally and form a bullish rounding bottom in the daily chart.&nbsp;
The neckline of the rounding bottom comes at $31,635 and projects the $35K barrier as the next pit stop. Currently, the BTC price trades at $30,789 and shows a bullish engulfing candle teasing a breakout shortly.
Technical indicators:
RSI: The RSI line spikes higher with the ongoing price jump and enters the overbought boundary, teasing trend continuation.
EMA: The 50-day and 200-day EMA sustain positive growth as the price jump helps avoid the death cross.&nbsp;
<h2 class="wp-block-heading" id="h-where-is-the-bitcoin-btc-price-heading">Where is the Bitcoin (BTC) Price Heading?</h2>
With the growing anticipations of Bitcoin crossing major resistance levels, the overall market starts to improve. As the belief for the exchange-traded fund approval strengthens, it will drive demand among the masses and trigger a new bull run before the 2024 halving event.
Considering the uptrend exceeds the $31,675 mark, the $35,000 is the next milestone for Bitcoin price.&nbsp;Moreover, Bitcoin’s share of the total crypto market capitalization is close to the 50% mark after 2 years.
Conversely, the BTC price may retest the $30K mark in case of a short pullback.&nbsp;

BTC Price Analysis: BTC Crosses $30K! Is This The New Bull Run?

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