Bitcoin

<div class="coinidol">
 <div class="info">
  <div class="news_info">
   Oct 23, 2023 at 16:09 // Price
  </div>
  <div class="author-box">
   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span>
  </div>
 </div> <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/691/900_900_1/fg7o0u9326tah65cnunpwouwkxg3ugmv.jpg" width="900" height="563" alt="" title="">
 <p><strong>Bitcoin price <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by Coinidol.com. Bitcoin (BTC) price resumed its uptrend after breaking through the $28,400 resistance level.</strong></p>
 <h2 style="text-align: justify;" id="bitcoin-btc-price-long-term-forecast-bullish">Bitcoin (BTC) Price Long-Term Forecast: Bullish</h2>
 <p style="text-align: justify;">Bitcoin facing the resistance at $28,400 has limited the price's upward movement since August 29. Nevertheless, the bulls broke through the resistance on October 29, paving the way for further gains. A retreating candlestick tested the 50% Fibonacci retracement level of the October 2 upswing.</p>
 <p style="text-align: justify;">The retracement predicts that Bitcoin will rise to the Fibonacci extension level of 2.0 or $32,033. Bitcoin has already reached the psychological price level of $30,752. As it approaches the expected price of $32,000, the bullish momentum is likely to encounter resistance. The current high represents an overbought market zone. The largest cryptocurrency has failed to break above the previous high of July 13.</p>
 <h3 style="text-align: justify;" id="technical-indicators">Technical Indicators:</h3>
 <p style="text-align: justify;">Key resistance levels – $30,000 and $35,000<br> Key support levels – $20,000 and $15,000</p>
 <p style="text-align: justify;"><img width="988" alt="BTCUSD_(Daily Chart) – OCT. 23.jpg" src="https://cdn.thebittimes.com/images/2023/10/24/87e0a3477f9c154b993b17d1dbecd3ba.webp" height="518" title="BTCUSD_(Daily Chart) – OCT. 23, 2023"><br></p>
 <h2 style="text-align: justify;" id="bitcoin-btc-indicator-reading">Bitcoin (BTC) Indicator Reading</h2>
 <p style="text-align: justify;">The price bars that are above the moving average lines have caused the value of the major cryptocurrency to rise. Since October 1, the BTC price has completed a bullish crossover, indicating that bullish momentum has resumed. The moving average lines are pointing north, indicating that the trend is up.</p>
 <h2 style="text-align: justify;" id="what-does-the-next-direction-look-like-for-btc-usd">What does the next direction look like for BTC/USD?</h2>
 <p style="text-align: justify;">Bitcoin has regained the psychological price level of $30,000. The largest cryptocurrency is approaching the point where it is likely to face resistance. The cryptocurrency value retested the resistance area between $31,000 and $32,000 in July, but was rejected. The BTC price is currently being rejected as it retests the $31,000 high.</p>
 <p style="text-align: justify;"><img width="988" alt="BTCUSD (4 Hour Chart) – OCT. 23.jpg" src="https://cdn.thebittimes.com/images/2023/10/24/cbcb05a15c9ca5649aeaadb3e495d80f.webp" height="518" title="BTCUSD (4 Hour Chart) – OCT. 23, 2023"><br></p>
 <p style="text-align: justify;">On October 16, BTC broke through the 21-day simple moving average and began an upward movement, as Coinidol.com reported before. The bullish momentum broke through the resistance at $28,600 and rose above the psychological price level of $30,000.&nbsp;</p>
 <p style="text-align: justify;"><i><span style="color: #959595;">Disclaimer. This <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds. </span></i></p> <i><span style="color: #959595;"> </span></i>
 <p><br></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-rises-again-and-recaptures-the-30-000-mark-tbt67471.html">https://thebittimes.com/bitcoin-rises-again-and-recaptures-the-30-000-mark-tbt67471.html</a></p>

Bitcoin Rises Again And Recaptures The $30,000 Mark

Table of Contents

TheBitTimes

Other articles published on Oct 23, 2023

$MK to Explode 10X Ahead of Meme Kombat Season 1

Solana Leads the Way As Institutions Pour Millions Into Crypto Markets Amid Bitcoin ETF Excitemen...

Bitcoin crosses over $30k, but there is a catch

Vitalik Buterin Highlights Ethereum Challenges and Need for Balance!

Solana’s leading DeFi protocol, Marinade, Restricts UK user access amidst compliance concerns

Bitcoin: Developer Exposes Major Flaw and Steps Down

Join our free newsletter for daily crypto updates!