{"id":539233,"date":"2023-06-23T00:00:58","date_gmt":"2023-06-23T00:00:58","guid":{"rendered":"https:\/\/uniquehot.com\/?p=539233"},"modified":"2024-06-11T08:06:00","modified_gmt":"2024-06-11T08:06:00","slug":"bitcoin-bulls-gear-up-to-test-31000-resistance-as-market-optimism-grows","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-bulls-gear-up-to-test-31000-resistance-as-market-optimism-grows\/","title":{"rendered":"Bitcoin Bulls Gear Up To Test $31,000 Resistance As Market Optimism Grows"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Bitcoin (BTC) has experienced a significant surge of over 10% in the last few days, leaving BTC bulls in euphoria. The largest cryptocurrency in the market has again become the center of attention, with investors expecting more upside movements soon.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, BTC recently stopped its uptrend and presented a minor pullback below the $30,000 level. For the cryptocurrency to expect future growth and continuous breach of higher levels to mark new annual highs, it must consolidate above this mark.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/shiba-inu\/shib-jumps-by-14-in-a-single-day-as-shiba-inu-worldpaper-gets-closer\/\" target=\"_blank\" rel=\"noopener \">SHIB Jumps By 14% In A Single Day, As Shiba Inu \u201cWorldpaper\u201d Gets Closer<\/a><\/div>\n<h2><span style=\"font-weight: 400\">Bitcoin Nears Liquidation Levels Of Short Sellers<\/span><\/h2>\n<p><span style=\"font-weight: 400\">The Wolf of Few Streets, a popular cryptocurrency trader, has recently shared his <\/span><a href=\"https:\/\/twitter.com\/wolf_of_streets\/status\/02739456?s=20\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">insights <\/span><\/a><span style=\"font-weight: 400\">on the current state of the Bitcoin market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to him, the resistance level for Bitcoin is currently at $31,000, and the bulls are expected to test it soon. Additionally, the main liquidation levels of short sellers are at $31,500 and $32,000, and BTC is just slightly away from reaching them.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Despite the recent volatility in the cryptocurrency market, The Wolf of Few Streets remains optimistic about Bitcoin&#8217;s future. He notes fundamental positivity in the market, with institutional investors showing an increased interest in the digital asset.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, The Wolf of Few Streets also cautions that a minor correction may happen after BTC touches one of these resistance levels. He advises investors to be cautious and closely monitor the market for potential changes.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Overall, The Wolf of Few Streets&#8217; insights suggests that the Bitcoin market is currently in flux, with bullish investors hoping for further growth and short sellers waiting for the right moment to sell.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">It remains to be seen whether BTC will be trapped in the $29,000 and $30,000 range for a while before attempting to breach higher resistances.\u00a0<\/span><\/p>\n<figure style=\"width: 1814px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large\" src=\"https:\/\/www.tradingview.com\/x\/8LSUIGdr\/\" alt=\"Bitcoin \" width=\"1814\" height=\"858\"><figcaption class=\"wp-caption-text\">BTC&#8217;s sideways price action after breaching the $30,000 mark. Source:<a href=\"https:\/\/www.tradingview.com\/chart\/7W2R5XTA\/\" target=\"_blank\" rel=\"noopener nofollow\"> BTCUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n<h3><span style=\"font-weight: 400\">BTC\u2019s 200-Week MA\/EMA Support Holds Steady<\/span><\/h3>\n<p><span style=\"font-weight: 400\">Bitcoin has been experiencing a surge in price recently, with the cryptocurrency market showing renewed interest in the digital asset.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Market analysts such as Michael Van de Poppe have <\/span><a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/67098112?s=20\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">noted <\/span><\/a><span style=\"font-weight: 400\">that this surge is likely the first real impulse in this cycle, indicating that Bitcoin may enter a new growth phase.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Van de Poppe has also noted that the 200-Week Moving Average (MA) and Exponential Moving Average (EMA) have supported Bitcoin&#8217;s price, indicating that the digital asset may be on a steady upward trajectory.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The market sentiment is positive, and institutional investors have shown increased interest in Bitcoin, a positive sign for its future growth.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/analysis\/pepe\/pepe-surges-by-34-amidst-general-market-recovery\/\" target=\"_blank\" rel=\"noopener \">PEPE Surges By 34% Amid General Market Recovery<\/a><\/div>\n<p><span style=\"font-weight: 400\">However, Van de Poppe also cautions that a correction may be on the horizon after BTC reaches the $38,000-$42,000 range.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">As of this writing, BTC is trading at $29,800, down by a slight 0.3% in the last 24 hours.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Featured image from Unsplash, chart from TradingView.com\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) has experienced a significant surge of over 10% in the last few days, leaving BTC bulls in euphoria. The largest cryptocurrency in the market has again become the center of attention, with investors expecting more upside movements soon.\u00a0 However, BTC recently stopped its uptrend and presented a minor pullback below the $30,000 level. For the cryptocurrency to expect future growth and continuous breach of higher levels to mark new annual highs, it must consolidate above this mark. Related Reading: SHIB Jumps By 14% In A Single Day, As Shiba Inu \u201cWorldpaper\u201d Gets Closer Bitcoin Nears Liquidation Levels Of Short Sellers The Wolf of Few Streets, a popular cryptocurrency trader, has recently shared his insights on the current state of the Bitcoin market.\u00a0 According to him, the resistance level for Bitcoin is currently at $31,000, and the bulls are expected to test it soon. Additionally, the main liquidation levels of short sellers are at $31,500 and $32,000, and BTC is just slightly away from reaching them. Despite the recent volatility in the cryptocurrency market, The Wolf of Few Streets remains optimistic about Bitcoin&#8217;s future. He notes fundamental positivity in the market, with institutional investors showing an increased interest in the digital asset. However, The Wolf of Few Streets also cautions that a minor correction may happen after BTC touches one of these resistance levels. He advises investors to be cautious and closely monitor the market for potential changes. Overall, The Wolf of Few Streets&#8217; insights suggests that the Bitcoin market is currently in flux, with bullish investors hoping for further growth and short sellers waiting for the right moment to sell.\u00a0 It remains to be seen whether BTC will be trapped in the $29,000 and $30,000 range for a while before attempting to breach higher resistances.\u00a0 BTC\u2019s 200-Week MA\/EMA Support Holds Steady Bitcoin has been experiencing a surge in price recently, with the cryptocurrency market showing renewed interest in the digital asset.\u00a0 Market analysts such as Michael Van de Poppe have noted that this surge is likely the first real impulse in this cycle, indicating that Bitcoin may enter a new growth phase. Van de Poppe has also noted that the 200-Week Moving Average (MA) and Exponential Moving Average (EMA) have supported Bitcoin&#8217;s price, indicating that the digital asset may be on a steady upward trajectory.\u00a0 The market sentiment is positive, and institutional investors have shown increased interest in Bitcoin, a positive sign for its future growth. Related Reading: PEPE Surges By 34% Amid General Market Recovery However, Van de Poppe also cautions that a correction may be on the horizon after BTC reaches the $38,000-$42,000 range.\u00a0 As of this writing, BTC is trading at $29,800, down by a slight 0.3% in the last 24 hours. Featured image from Unsplash, chart from TradingView.com\u00a0<\/p>\n","protected":false},"author":589,"featured_media":528766,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1119,78790,6664],"class_list":["post-539233","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusdt","tag-crypto"],"acf":[],"yoast_head":"\n<title>Bitcoin Bulls Gear Up To Test $31,000 Resistance As Market Optimism Grows<\/title>\n<meta name=\"description\" content=\"Bitcoin has experienced a significant surge of over 10% in the last few days, leaving BTC bulls in a state of euphoria.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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