Bitcoin

The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/btc-price-analysis-bitcoin-breaks-35k-as-etf-decision-looms/">BTC Price Analysis: Bitcoin Breaks $35K as ETF Decision Looms!</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
After discovering the Blackrock ETF ticker code on the Depository Trust &amp; Clearing Corp.’s website, Bitcoin skyrockets to a new 2023 high. With crypto traders taking the BTC price to $35,198, the ticker code was quickly removed, leading to a plunge to $31,917.&nbsp; 
DTCC explains that the ticker code appearing is common for any potential ETF and clears the mist around approval. Nevertheless, with such an impulsive wave, the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin price prediction</a> suggests an uptrend to the $40K mark soon.&nbsp; 
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With the anticipation to complete the rounding bottom pattern, the BTC price exceeds all the expectations with the ongoing bull run. The news-fueled rally shoots Bitcoin value 10.24% to form an impressive bullish engulfing candle.&nbsp; 
Leading to a bullish breakout of rounding bottom, the unleashed momentum drives Bitcoin higher to above the $35K mark. The uptrend takes a breather phase and pulls back to the $34K mark.&nbsp; 
Currently, the BTC price trades at $34,025 with an intraday growth of 0.28% and struggles to sustain the momentum. However, the rising possibility and frequent positive teases around Bitcoin spot ETF approval will be the driving factor.&nbsp; 
Technical indicators: 
RSI: The RSI line shows linear growth to enter the overbought zone and sustains the uptrend, reflecting the strong bullish pressure.&nbsp; 
EMA: The 50-day and 200-day EMAs avoid a death cross and regain an uptrend. Moreover, the increasing bullish gap between the averages increases the uptrend possibility.&nbsp; 
<h2 class="wp-block-heading" id="h-will-btc-price-touch-40k-before-the-2024-halving">Will BTC Price Touch $40K Before The 2024 Halving?</h2> 
As the Bitcoin spot ETF rumours and ticker code teasers flood the market, the overpowering bulls are riding the hopium rally. Moreover, the rising number of bullish engulfing candles in a blue chip crypto like Bitcoin signals a buy signal.&nbsp; 
Considering the uptrend exceeds the $35,000 mark, the $40,000 is the next milestone for Bitcoin price. However, the breakout rally might experience some incoming supply close to the $38,000 mark.&nbsp; 
Conversely, the BTC price may retest the $31K mark in case of a serious pullback.&nbsp;

BTC Price Analysis: Bitcoin Breaks $35K as ETF Decision Looms!

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