Despite the global market downturn, Bitcoin prices continue to soar.The price rose 3
- Despite the global market downturn, Bitcoin prices continue to soar.
- The price rose 3.12% within two trading days, returning to the $29000 mark.
- After breaking through $30000, Bitcoin continues its upward trend, with a target of $35000.
Despite the decline in the US stock market, Bitcoin continued to maintain a bullish fast track, soaring on Thursday, entering a high-speed rebound and breaking through $30000. Ignoring the yield of 10-year US treasury bond bonds, the BTC price rose by 6 basis points to 4.97%, almost 5%.
The interest rate of the 10-year treasury bond bond with such a high yield pushed the stock market into a bear market, but Bitcoin (BTC) and counterfeit currency continued to rise unexpectedly. With such an upward trend, the forecast for Bitcoin prices highlights the possibility of reaching the $35000 mark.
As the trend line breaks through, Bitcoin prices rise and remain bullish as market sentiment improves. Bitcoin has risen by 9% in the past five days, jumping from $26800 to $29240 and continuing to move towards higher goals.
With the possibility of interest rate hikes remaining unchanged next month, Bitcoin prices have risen and entered a bull market of halving events. With a retest jump from $28000, the BTC trend shows two bullish swallowed candles continuing to rise.
In addition, the BTC price shows a round bottom reversal and may soon reach the neckline of $30000. Currently, the BTC price is $29242, with an intraday increase of 1.77%.
Technical indicators:
RSI:With the improvement of bullish sentiment, the RSI line skyrocketed and approached the overbought boundary, indicating the continuation of the trend.
EMA:The 50 day moving average and 200 day moving average remain bullish, and a sudden price reversal leads to an upward trend in the 50 day moving average.
Where is the price trend of Bitcoin (BTC)?
Investors are accumulating Bitcoin during a bearish period in the stock market, reflecting the market's confidence in Bitcoin. Considering that the upward trend has exceeded the $30000 mark, $35000 is the next milestone for BTC prices.
In addition, with the rise of "Uptober" sentiment this year, the sentiment driven rebound may cross multiple resistance levels.
On the other hand, although there is little chance of a reversal, if the seller maintains a dominant position at $30000, there may be a pullback. In this case, the price trend may retest the $28000 mark.
Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])
