Bitcoin (BTC) price currently battles to hold the $34,000 level after a stellar rally and short squeeze saw its price push above $35,000 on Oct. 23.
In an Oct. 24 market update, Capriole Investments founder Charles Edwards noted that after 7 months of consolidation, Bitcoin’s upward move melted the $32,000 resistance “like butter” and he expects that the upcoming monthly resistance is unlikely to be a hurdle.
“It would make sense to see either a rapid continuation to mid-range ($43K) or short-term consolidation between support resistance at $32-$35K before continuation.”
As Cointelegraph mentioned in an earlier price update,
“Successive daily closes above the… Read more on Cointelegraph