Bitcoin announces its bull market is well and truly on after making a new high for the year at $35,000. Is there more to come from this latest push skywards?
Bitcoin fires through resistance
With the stock market still continuing to falter as the 10-year yield briefly hit above 5% again, bitcoin did its own thing, and crashed through the major resistance at $32,000 which had held it back since May of 2022.
The price rose as high as $35,200 (depending on the exchange) very early on Tuesday and has settled back just under $34,000 at time of going to press.
Source: Trading View
A potential further bullish move
The up channel that bitcoin has been following since mid-June of last year was broken to the upside and the price has settled here, either to cement what would be an incredibly bullish piercing of the top of this channel, or to come back down into the channel once more.
Momentum appears to be in charge still, so an onward surge to $40,000 may not be out of the question. However,
We współpracy z: https://cryptodaily.co.uk/2023/10/bitcoin-reaches-over-35k-after-exploding-through-resistance
