Crypto Currency Tracker logo Crypto Currency Tracker logo
NewsBTC 2023-06-21 16:38:20

Bitcoin Price Breaks Above $30,000: Is The Bull Run Back On?

Bitcoin price is back above $30,000 for the second time in 2023, with bulls hoping it not only holds this time, but leads to renewed confidence in the crypto market. Is this a sign the bear market is over and the bull run is back on? Or is this just a bear market rally that will result in new lows eventually? Let’s take a closer look at the latest price action. Bitcoin Price Reclaims $30,000 Following Shift In News Cycle Just a week ago, the SEC was waging a war against altcoins, and there was negative news around every turn for the crypto market. In a flash, the news cycle turned positive with a slew of Wall Street brands making their presence known in the crypto space. Names include BlackRock, Charles Schwab, Sequoia Capital, Fidelity, and others. Related Reading: Bitcoin Breaks Out Of Ichimoku Cloud, Storms Toward $28,000 Within days of the news making rounds, Bitcoin price is already back above $30,000 per coin, leaving bears who expected new lows bewildered and in disbelief. Bitcoin has reclaimed $30,000 | BTCUSD on TradingView.com Why $31,000 Is The Level To Watch With $30K Broken Not only is BTCUSD back above $30,000 per coin, but it is already quickly approaching $31,000. A higher high on any timeframe could send further confirmation to investors that a bottom is in for cryptocurrencies. Investors and traders who were too fearful to buy lower might finally see these levels as a safer entry. Related Reading: Bitcoin Recovers Above Critical Level, Why Bulls Could Be Ready To Charge But Bitcoin isn’t yet out of the woods. $31,000 is the current local high for 2023, and that level must be taken out to further confirm an uptrend. An uptrend, by definition, is a series of higher highs and higher lows. With a higher low made at precisely $25,000 – the only thing that is missing is this higher high above $31,000. Will we get it as soon as today or this week? Tony is the author of the CoinChartist (VIP) newsletter. Follow @TonyTheBullBTC & @coinchartist_io on Twitter. Or join the TonyTradesBTC Telegram for daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

면책 조항 읽기 : 본 웹 사이트, 하이퍼 링크 사이트, 관련 응용 프로그램, 포럼, 블로그, 소셜 미디어 계정 및 기타 플랫폼 (이하 "사이트")에 제공된 모든 콘텐츠는 제 3 자 출처에서 구입 한 일반적인 정보 용입니다. 우리는 정확성과 업데이트 성을 포함하여 우리의 콘텐츠와 관련하여 어떠한 종류의 보증도하지 않습니다. 우리가 제공하는 컨텐츠의 어떤 부분도 금융 조언, 법률 자문 또는 기타 용도에 대한 귀하의 특정 신뢰를위한 다른 형태의 조언을 구성하지 않습니다. 당사 콘텐츠의 사용 또는 의존은 전적으로 귀하의 책임과 재량에 달려 있습니다. 당신은 그들에게 의존하기 전에 우리 자신의 연구를 수행하고, 검토하고, 분석하고, 검증해야합니다. 거래는 큰 손실로 이어질 수있는 매우 위험한 활동이므로 결정을 내리기 전에 재무 고문에게 문의하십시오. 본 사이트의 어떠한 콘텐츠도 모집 또는 제공을 목적으로하지 않습니다.