Bitcoin is holding above the $34,000 price level. Is the king of the cryptocurrencies getting ready for another probe into higher price territory?
It would appear that the upwards pressure on price is being caused by what some are saying is the imminent approval of a Spot Bitcoin ETF by the SEC. Whether this is in the next few days, or early next year, is yet to be seen, although the market does seem to be moving on an affirmative scenario.
Bitcoin looks strong
Bitcoin is still looking strong. After 2 days of sending wicks into the $35,000 region bitcoin appears to be consolidating above $34,000 and above the top of its upward slanting channel.
Source: Trading View. Daily time frame.
Looking at the shorter time frame of the 4-hour, bitcoin is forming a pennant, and looks to possibly be breaking this to the upside. Another couple of hours at least are needed in order to see if this is successful.
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We współpracy z: https://cryptodaily.co.uk/2023/10/bitcoin-consolidates-ready-for-push-higher
