Bitcoin price must break $31K to avoid 2023 'bearish fractal'
BTC price needs to recoup some more key levels before ditching longer-term bearish risk, the latest Bitcoin analysis says. 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: TradingView BTC 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 the weekly chart. BTC/USD annotated chart. Source: Rekt Capital/X Rekt Capital argued that BTC/USD could disregard the bearish chart fractal in play throughout 2023 next. This ...