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BTCUSD Achieves a Price Increase of 30% in 2 Weeks
BTCUSD has achieved a major price increase over the past two weeks. The coin has seen a remarkable surge in price, exceeding 30%. After sliding below the $30,000 price threshold, the cryptocurrency struggled to regain momentum and slowly retreated to $25,000. It was at this point that the bulls started to regain control.
BTC/USD Key Levels
Supply Levels: $35,000, $38,000
Demand Levels: $30,000, $28,000
BTC buyers gained significant strength as they successfully pushed the market above the critical $26,300 level, capitalizing on strong support. The price surge initiated at this level, initially spiking above $28,000 and ultimately breaking through the $30,000 barrier.
As the price approached the $35,000 resistance level, the Stochastic Oscillator lines ascended directly into the overbought region, and despite a retracement from the $35,000 level, they have remained in this territory. The Parabolic SAR (Stop and Reverse) maintains a sequence of dots positioned below the daily candlesticks.
BTC/USD Market Expectations
Examining the 4-hour chart, the retracement in the market is evident, with the Stochastic Oscillator lines fluctuating around the border of the overbought region. Simultaneously, the Parabolic SAR dots remain consistently aligned below the candlesticks. Following the pullback, the price is expected to rally and potentially reach $38,000. This significant increase in BTCUSD demonstrates the crypto market’s resilience and its potential for rapid growth.
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, presented product, or event. We are not responsible for your investment results.
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