Bitcoin

<ul><li>Bitcoin&#39;s recent surge past $35,000 showcased its bullish momentum, but a short-lived spike led to potential consolidation.</li><li>Technical indicators like RSI and EMAs suggest Bitcoin&#39;s overbought condition, urging caution.</li><li>Analysts anticipate a $40,000-$45,000 Bitcoin range, driven by factors like ETF anticipation and strong market structure.</li></ul>In the world of cryptocurrency, Bitcoin&#39;s recent performance has been nothing short of impressive. According to a tweet by CryptoBusy, an analyst, the  Law of time frame indicates that the 1D, 4HR, and 1HR charts are all signaling green. Additionally, technical indicators such as EMA 9, ALMA 20, and BB 50 are bullish on both the 1hr and 15 mins charts. <a href="https://cryptotale.org/2023s-crypto-landscape-bitcoin-hits-35000-as-institutions-eye-us-btc-etfs/" rel="noopener noreferrer nofollow">Bitcoin&#39;s </a>positive momentum was further accentuated when it briefly surpassed the $35,000 mark on Wednesday. However, this surge was relatively short-lived.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/602a40bfb1674cdab9f8134a1e6c543f.png" />The rapid descent in price that followed might have been triggered by sell orders, possibly from miners. Moreover, the significance of the $35,000 point cannot be understated; it&#39;s viewed as a monthly resistance level. Consequently, market analysts suggest that Bitcoin might hover below this threshold for some time, indicating a potential period of consolidation.Moreover, Charles Edwards,<a href="https://capriole.com/update-7/" rel="noopener noreferrer nofollow"> founder</a> of Capriole Investments, believes that despite this short-term consolidation, Bitcoin could aim for the $40,000-$45,000 range in the upcoming weeks. Additionally, the crypto giant<a href="https://www.cnbc.com/2023/10/24/bitcoin-crosses-34000-to-the-highest-since-may-2022-on-etf-hopes.html" rel="noopener noreferrer nofollow"> reached</a> around $35,000 on Monday, marking a 17-month high. This surge was driven by the anticipation of a spot Bitcoin exchange-traded fund (ETF) and other catalysts.Read full article at <a href="https://cryptotale.org/bitcoin-hits-17-month-high-etf-hype-fuels-market-optimism/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Bitcoin Hits 17-Month High: ETF Hype Fuels Market Optimism

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