Bitcoin Price Rally To $35,000 Could Be The Start The Bulls Needed

Oct 24, 2023 04:00 am Cryptocurrency 99

Bitcoin price is up over 15% and trading near the $35,000 resistance. BTC could correct in the short term before it starts another increase.

Bitcoin started a strong increase after there was speculation of spot ETF being listed DTCC.

The price is trading above $34,000 and the 100 hourly Simple moving average.

There is a connecting bullish trend line forming with support near $32,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could correct in the short term before it resumes its increase.

Bitcoin Price Jumps Over 15%

Bitcoin price started a strong increase after there was speculation of spot ETF being listed DTCC. BTC gained bullish momentum after it broke the $32,000 resistance zone.

There was a decent increase toward the $35,000 resistance zone. A new multi-week high is formed near $35,225 and the price is now consolidating gains. It is trading well above the 23.6% Fib ..

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