Bitcoin Price Hesitates, But Further Gains Seem Likely Toward $30K

Oct 20, 2023 04:00 am Cryptocurrency 83

Bitcoin price is attempting a fresh increase above $28,500. BTC is eyeing another upside break toward the $30,000 resistance in the near term.

Bitcoin found support near $28,150 and started a fresh increase.

The price is trading above $28,500 and the 100 hourly Simple moving average.

There is a key rising channel forming with resistance near $29,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could continue to rise if there is a close above the $29,000 resistance.

Bitcoin Price Eyes Upside Break

Bitcoin price struggled below the $29,000 level. BTC even traded below the $28,250 level before the bulls appeared. The price found support near the $28,150 zone and recently started a fresh increase.

There was a move above the $28,400 and $28,500 resistance levels. The price cleared the 61.8% Fib retracement level of the downward move from the $28,980 swing high to the $28,150 low. There is also a key rising ..

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