Bitcoin

<a href="https://cryptosnewss.com/category/bitcoin-news/" rel="noopener noreferrer nofollow">Bitcoin</a>, the king of cryptocurrencies, is once again gearing up for a spectacular rally, with its sights set on breaching the elusive $35,000 resistance. After a brief correction that saw it drop below $34,000, Bitcoin exhibited remarkable resilience, finding strong support above $33,200, demonstrating the unwavering bullish sentiment in the market.This resurgence is not happening in isolation; Bitcoin is backed by robust technical indicators. It is currently trading comfortably above $34,000, well-supported by the 100 hourly Simple Moving Average, which typically reflects a positive sentiment among traders. A significant bullish trend line is also taking shape, adding to the optimism, with crucial support emerging around $34,220, according to data from Kraken.For Bitcoin to fulfill its ambitious target, it needs to conquer the $35,000 resistance zone. The cryptocurrency has already tasted the sweet success of breaching this mark, but a sustained push above it is what the market is eagerly waiting for. If Bitcoin can securely close above $35,000, it’s poised for a fresh surge that could propel it even further.In terms of price movements, Bitcoin recently went through a minor correction, which led to a dip below $34,000. However, the vigilant bulls swiftly re-entered the scene, stabilizing the price above $33,200. This zone is now acting as a strong foundation for Bitcoin’s ascent.After reaching a low of approximately $33,250, the price began to surge once more. It convincingly surpassed the $34,000 resistance zone, and the 50% Fibonacci retracement level of the recent downward movement was breached. With the price currently sitting above $34,000, Bitcoin enthusiasts are watching with bated breath for the next big move.The immediate hurdles on this path to glory include the $34,750 level and the 76.4% Fibonacci retracement level around $34,200. However, the most crucial resistance is seen around the $35,200 zone. A decisive breach of this barrier could usher in another remarkable surge, with the next milestone being $36,500, and the tantalizing prospect of reaching $38,000 in the near future._______________________________________________________________________________________Stay connected with us on <a href="https://news.google.com/publications/CAAqBwgKMLrrowwwzOOyBA" rel="noopener noreferrer nofollow">Google News</a>, <a href="https://t.me/cryptosnewsss" rel="noopener noreferrer nofollow">Telegram</a>, <a href="https://twitter.com/NewssCryptos" rel="noopener noreferrer nofollow">Twitter</a>, and <a href="https://www.facebook.com/profile.php?id&#61;100089949049302" rel="noopener noreferrer nofollow">Facebook</a> to stay updated on the latest developments and engaging discussions in the realm of CryptosNewss.Disclaimer: Please note that the viewpoints and perspectives expressed by the author, as well as any individuals referenced in this article, are intended solely for informational purposes. They should not be construed as financial or investment advice. It’s important to acknowledge that investing in or trading cryptoassets carries inherent financial risks.Originally published at <a href="https://cryptosnewss.com/bitcoin-bulls-eye-fresh-highs-can-btc-break-35000-resistance/" rel="noopener noreferrer nofollow">https://cryptosnewss.com</a> on October 26, 2023.

Bitcoin Bulls Eye Fresh Highs: Can BTC Break $35,000 Resistance?

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