Bitcoin ETF is trending – Right now, investors are only talking about the potential approval of a spot Bitcoin ETF. Indeed, according to Google Trends, the popularity of the term bitcoin spot ETF is at its highest. The SEC is taking its time, and the price of Bitcoin nonetheless remains very solid. It is up almost 3% in 24 hours, and settles above $30,000. Will BTC experience another bullish week? The $30,000 level has pushed the price back several times in recent months.
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Bitcoin price rises almost 3% in 24 hours
Buyers continue to push at the start of the week. Indeed, the Bitcoin price displays a increase of almost 3% in 24 hours and of 13% in one week :
In one month, the course shows a increase of more than 15%. Also, in three months, the course climbs 6%. For its part, the BTC/ETH pair stagnates in 24 hoursbut she remains in increase of almost 5% in one week.
Bitcoin price must break resistance at $31,500
Last week ended in the most beautiful way. In fact, the price closed the week with a increase of more than 10%. Buyers managed to lower the level of weekly resistance located at $29,000the next resistance is around $31,500 :
Despite the recent increase of approximately 20% from support at $26,000the price remains stuck between the two terminals located between the last low marked at $24,825and the last high marked at $31,750.
The course must retake the level at $31,500 as support to avoid continuing the range between the two terminals. If the resistance is broken, the price could join the next weekly resistance at $38,000. On the other hand, a rejection at the level of resistance would return to the level of support at $29,000.
The RSI broke the bearish trendlineand some bullish volatility was put in place. Momentum is once again showing momentum with rising lows and highs. THE buyers have their hands on momentum.
Bitcoin price heads towards resistance at $31,600 in 4H
The course breaks resistors one after the other in a time unit of 4 hours. Recently, the price exceeded the resistance at $30,500and he heads towards the next resistance located at $31,600 :
THE institutional bias (EMA 9/EMA 18) is oriented upwardshe could act as dynamic support in the event of a fall. Buyers must defend support level at $30,500 to return to the level of resistance at $31,500. Otherwise, if the support does not hold, the price could fall towards the next support located at $29,800. The RSI marks divergence in 4Hand a new one could be put in place in the event of a close below 67. Also, the RSI broke the bullish trendlineof the’shortness of breath begins to materialize in 4 hours.
BTC closes last week up more than 10%, and buyers don’t seem to want to stop there. In fact, the price attacks the weekly resistance located at $31,500. This resistance will have to be broken to hope to return to the $38,000 level. In the short term, momentum is showing signs of running out of steam. Buyers must defend the support level at $30,500 to avoid falling back below $30,000. With these signs of solidity shown in recent days, the Are cryptocurrencies close to exploding upwards? ?
Closer to Bitcoin news
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