Greed

Bitcoin

Sherpa

Investors continue to gain confidence in Uptober as BTC/USD pair overcomes resistance levels in recent times. The most critical question for <a href="https://en.coin-turk.com/bitcoins-critical-threshold-30000/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>, which reached its highest levels in 2023, is whether the upward trend will continue. According to many analysts, one of the biggest obstacles for Bitcoin is the $32,000 resistance. So what are the most important factors for the continuation of the rise? Let’s examine together.
<h2 class="p1" style="text-align: justify" id="critical-levels-for-rsi">Critical Levels for RSI</h2>
The $32,000 resistance, which is one of the highest levels for Bitcoin in the last three months, is considered a difficult resistance to overcome by many analysts. Popular investor and analyst Daan <a href="https://en.coin-turk.com/investors-focus-on-micro-developments-in-crypto-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto</a> Trades made the following comment to his followers:
<blockquote>
 “Bitcoin is moving towards the peak of the December 2023 range. It won’t be easy to surpass the $31,000 and $32,000 levels, but once it does, I will aim for the $38,000 level.”
</blockquote>
<img decoding="async" class="aligncenter wp-image-269315 size-full" src="https://coin-turk.com/wp-content/uploads/2023/10/btc-gunluk-grafik-yorumu.jpg" alt="" width="1280" height="812">
Another popular analyst, Ali, drew attention to the Relative Strength Index (RSI) in a post he shared on X. The RSI, which was 77 on October 23rd, was the levels that Ali expected a sharp correction since March of this year. According to the analyst, any value above 70 is considered an “overbought” zone:
<blockquote>
 “If Bitcoin fails to close a daily candle above $31,560, an upcoming price correction seems imminent.”
</blockquote>
<img decoding="async" class="aligncenter wp-image-269316 size-full" src="https://coin-turk.com/wp-content/uploads/2023/10/btcusd-rsi.jpg" alt="" width="2182" height="1230">
<h2 class="p1" style="text-align: justify" id="critical-levels-for-fear-index">Critical Levels for Fear Index</h2>
The Fear and Greed Index, which has been relatively stagnant for a long time, has started to move with recent developments. Over the weekend, the crypto sentiment indicator jumped into the greed zone and reached its highest value of 63/100 since July 12th.
With this increase, Bitcoin’s attempt to surpass the $30,000 level coincided and reinforced the importance of this price level in investors’ minds. Popular analyst <a href="https://en.coin-turk.com/render-token-bounces-back-after-last-weeks-dip-will-the-momentum-last/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Altcoin</a> Sherpa described the $30,000 level as a frightening zone and made the following comments to his followers on X:
<blockquote>
 “While still seeing where the price will go, I still consider the next peak to be extremely important. In the medium term, we are about to see whether we will see $20,000 or $40,000. If we break $32,000 strongly, we will go to $40,000.”
</blockquote>
<img decoding="async" class="aligncenter wp-image-269317 size-full" src="https://coin-turk.com/wp-content/uploads/2023/10/korku-endeksi-.webp" alt="" width="1137" height="529"> Continue Reading: <a href="https://en.coin-turk.com/will-bitcoin-continue-to-rise-analysis-of-btc-price-with-data/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/will-bitcoin-continue-to-rise-analysis-of-btc-price-with-data/</a>

Will Bitcoin Continue to Rise? Analysis of BTC Price with Data

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