{"id":6441,"date":"2023-11-02T18:39:29","date_gmt":"2023-11-02T18:39:29","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=6441"},"modified":"2023-11-02T18:39:29","modified_gmt":"2023-11-02T18:39:29","slug":"will-bitcoin-be-able-to-sustain-above-35000","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/will-bitcoin-be-able-to-sustain-above-35000\/","title":{"rendered":"Will Bitcoin Be Able to Sustain Above $35,000?"},"content":{"rendered":"

In this article, we will analyze past price movements of Bitcoin<\/strong> through price analysis, charts, and technical indicators. We will determine support and resistance levels and guide investors in their buying and selling decisions.<\/p>\n

Bitcoin<\/strong> experienced the expected uptrend after the falling trend broke. This uptrend gained upward momentum to the level of 35,500<\/strong> dollars after exceeding the horizontal channel band between 24,500<\/strong> dollars and 31,500<\/strong> dollars, under the influence of ETF<\/strong> news and other positive developments.<\/p>\n

This increase occurred with positive developments in the market and increased interest from investors. However, this momentum in Bitcoin<\/strong> could change in different directions in the future depending on specific news and market conditions. The breaking of the horizontal<\/strong> channel<\/strong> band and holding above these levels could increase the upward potential, but it may be necessary to carefully follow developments in the market.<\/p>\n

You might like: Binance Futures Adds Popular Altcoins!<\/strong><\/em><\/a><\/p><\/blockquote>\n

 <\/p>\n

\"Bitcoin\"<\/p>\n

When we analyze Bitcoin using daily candles, we can observe that it is experiencing an increase toward the $36,000 levels. We have identified a support region for potential retracements, which falls between $34,000<\/strong> and $34,450<\/strong>. If Bitcoin loses this region, it could experience a decline to the level of 31,500<\/strong> dollars. On the other hand, there is also a possibility of touching the rising trend line, which indicates a region where Bitcoin could find support.<\/p>\n

When considering the bullish scenario, if Bitcoin finds a firm support above 34,450 dollars, an upward movement to the levels of 37,759<\/strong> dollars and subsequently 39,410<\/strong> dollars could be observed.<\/p>\n

Bitcoin’s Short-Term Channel<\/h2>\n

When we examine the channel structure of Bitcoin<\/strong> from a short-term perspective, it shows that it is important to closely follow the current channel, as staying stable above 34,000 dollars and rising to the levels of 36,000<\/strong> dollars. If the channel undergoes an upward break, we predict that Bitcoin<\/strong> could continue its rise to the levels of 37,500<\/strong> dollars. On the contrary, in case of a downward break in the channel, a decline to the level of 32,500<\/strong> dollars could be possible.<\/p>\n

If Bitcoin continues to price within this channel, sharp rises could be observed in altcoins<\/strong>, because altcoins usually have noticeable mobility during Bitcoin’s consolidation periods.<\/p>\n

\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram<\/strong>,<\/a>\u00a0YouTube<\/strong><\/a>\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

In this article, we will analyze past price movements of Bitcoin through price analysis, charts, and technical indicators. We will determine support and resistance levels and guide investors in their buying and selling decisions. Bitcoin experienced the expected uptrend after the falling trend broke. This uptrend gained upward momentum to the level of 35,500 dollars<\/p>\n","protected":false},"author":2,"featured_media":6440,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[61,477,534,1230,2231],"class_list":["post-6441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coin-analysis","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-etf","tag-coin-analysis","tag-market-analysis"],"yoast_head":"\nWill Bitcoin Be Able to Sustain Above $35,000? - Coin Engineer<\/title>\n<meta name=\"description\" content=\"In this article, we will analyze past price movements of Bitcoin through price analysis, charts, and technical indicators.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/will-bitcoin-be-able-to-sustain-above-35000\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Will Bitcoin Be Able to Sustain Above $35,000? 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