Highlights of the storyAfter recent rejections, Bitcoin prices are striving to maintain above the rising level, but bears continue to predict their existence.The price needs to reach $30000 at the earliest to maintain a healthy rebound before the end of the month
Highlights of the story
- After recent rejections, Bitcoin prices are striving to maintain above the rising level, but bears continue to predict their existence.
- The price needs to reach $30000 at the earliest to maintain a healthy rebound before the end of the month.
The current trading price of Bitcoin exceeds $29000 and it is difficult to maintain momentum in a relatively short period of time. After rejecting $30000 recently, the price dropped to nearly $27300. At present, BTC prices are once again approaching key resistance levels, and it seems that they can easily reach these levels. But the problem still exists, will the upward trend remain strong or will it be rejected again?
Due to multiple drops in prices from recent highs, Starcrypto has recently experienced significant turbulence. However, market sentiment continues to be bullish, as traders are very optimistic about the upcoming BTC price rise. Therefore, they continue to hold tokens instead of falling into the trap of panic selling.
According to Glassnode's data, the accumulation of holders in the past few months has been very strong, so they may continue to maintain a good upward trend without any signs of distribution.
The strong overweight may provide the necessary foundation for the recently rising star cryptocurrency. In addition, the current trading settings are flashing signals of a bull market recovery in the coming days. A popular analyst TAnalsyst said that a bull market starts every 1430 days, and the recent rebound may have ignited an upward trajectory. In addition, an increase is triggered when RSI (1000) is between 49.5 and 50.
Overall, the current uptrend needs to rise to over $30000 and sustain, with the goal of reaching a new high of over $31000. This will be a possibility for bulls to use all their strength to maintain a healthy upward trend and achieve higher goals, which may expand to $50000 by the end of 2023.
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