Bitcoin Broke Out to $30,000 Now What?

Bitcoin Broke Out to $30,000 Now What?

By Aventurine | Crypto Aventurine | 20 Oct 2023


Bitcoin broke out much faster than I have expected and is sitting at $30,000 mark so what can we expect next?

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This is hourly chart an the pump looks really strong, it appears that the ETF approval news is still on the card so was the Cointelegraph right with the leak but wrong with fake news confirmation?  

I did some research and I couldn't find definitive answer to why Bitcoin pumped today, I guess it is a bit to early.

But going back to the chart, on the daily we can see Bitcoin is at $30k resistance level so going to $31,000 and creating new support level is crucial for the uptrend continuation!

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In fact, $32,700 level is the most important resistance area that is multi year resistance/support crossing line that will define the bull market or the bear market! 

This is well seen on the weekly chart!

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There is still 168day to the having and in the past Bull run started 4 months after the having! Could an actual ETF approval trigger pre-having bull market of all time? 

 

All The Best,

Aventurine!

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