Bitcoin (BTCUSD) Resists Bearishness, Rise Above $35,000
Login

Bitcoin (BTCUSD) Resists Bearishness, Rise Above $35,000

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more


BTCUSD Resists Bearish Pressure and Pushes Higher

BTCUSD resists bearish pressure to push its price above the significant $35,000 level. Buyers of the cryptocurrency are having a swell time as the coin has overcome a bearish third quarter and has been firing on all cylinders since the beginning of this last quarter.

BTCUSD Key Levels:

Supply Levels: $35,000, $38,000
Demand Levels: $30,000, $28,000

Bitcoin (BTCUSD) Resists Bearishness, Rise Above $35,000

In a space of two weeks, from the 12th to the 25th of October, the coin rose more than 30% to reach the significant level of $35,000. At this point, BTC sellers are trying to close the market at the $35,000 level. Nevertheless, Bitcoin has done tremendously well to resist the pressure.

On the daily chart, the price is an uptrend line as it forces itself above $35,000, and the Parabolic SAR (Stop and Reverse) dots align below the daily candles. The MACD (Moving Average Convergence Divergence) line on the daily chart rose above the zero point at the beginning of October and has been pushing upward ever since.

Bitcoin (BTCUSD) Resists Bearishness, Rise Above $35,000

Market Expectations

In the 4-hour timeframe, the Parabolic SAR dots are alternating around the candlesticks as they slide upward above the rising trendline. The MACD in this timeframe is trading more laterally because of the reduced moment compared with the price surge to $35,000. Bitcoin is expected to hold above this level and then push upward some more towards $38,000.

How To Buy Lucky Block

NoteLearn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News