Bitcoin price must break $31K to avoid 2023 ‘bearish fractal’

Bitcoin (BTC) held above $30,000 at the Oct. 23 Wall Street open as analysis said BTC price strength could cancel its “bearish fractal.”

BTC/USD 1-hour chart. Source: TradingViewBTC price preserves majority of early upside

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it hovered near $30,700, still up 2.5% on the day.

The largest cryptocurrency had made snap gains after the Oct. 22 weekly close, stopping just shy of $31,000 in what became its highest levels since July.

Now, popular trader and analyst Rekt Capital was keen to see the $31,000 level break.

“Bitcoin has Weekly Closed above the Lower High resistance to confirm the breakout,” he commented alongside…

Read more on Cointelegraph

18.7K Reads