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 Maintains Its Push to Rise Above $35,000
Bitcoin remains steadfast in its endeavor to surmount the formidable $35,000 resistance level, exhibiting a determined push toward higher price levels. This bullish resurgence has followed an extended period of consolidation beneath the $28,000 threshold.
BTCUSD Key Levels:
Supply Levels: $35,000, $38,000
Demand Levels: $30,000, $28,000
The breakthrough of the $28,000 mark sparked a notable rally, propelling Bitcoin to the $35,000 range. While this upward trajectory has temporarily paused at the resistance level, the cryptocurrency’s tenacity is evident as it continues to exert pressure below the $35,000 barrier.
Taking a closer look at the daily chart, the Moving Average (MA) Cross, which initiated an upward crossover in mid-October, is now functioning as a supportive element for the price. This moving average not only sustains pressure against the $35,000 resistance but also contributes to the overall bullish sentiment. Additionally, the MACD (Moving Average Convergence Divergence) lines have experienced a substantial uptick, accompanied by bullish histogram bars, signifying robust upward momentum.
Bitcoin Market Expectations
In the shorter timeframe, the MACD indicator has undergone a gentle descent due to the resistance encountered at $35,000, leading to the emergence of bearish histogram bars. Nonetheless, the MA Cross lines on this timeframe align closely with the candlesticks, underscoring BTCUSD’s unwavering determination to breach the $35,000 resistance. This concerted effort on multiple fronts indicates that Bitcoin remains resolute in its quest for a breakthrough beyond the $35,000 threshold.
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.
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
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.
