Bitcoin price again faced rejection in an attempt to rise beyond $24,000 for the second consecutive time in the past week, indicating the possibility of a bullish divergence soon. After starting the new year with a 40% upswing, the market participants were quite hopeful of the impending trend. However, after breaking the resistance at $23,300 that it held for nearly a week, the BTC price surged high to mark highs beyond $24,000.
But woefully, the levels quickly dropped, creating a sense of uncertainty among the market participants. However, the current trade setup displays larger possibilities of a bearish divergence but in the longer time frame, a breakout could be imminent.
នេះ តម្លៃ Bitcoin is ranging within an expanding wedge that sets the upper target between $30,000 to $32,000. These resistance levels are extremely important as they carry a confluence of resistance points. Firstly, the crucial resistance zone between $31,100 and $31,800 collides with the upper trend line at $31,117. The formation of a bullish flag pattern may also uphold the possibility of a bullish breakout.
Moreover, the possibility of a continued upswing is believed to prevail for an extended period ahead. As the bull run which has been ignited just a moments ago is believed to mark their highs somewhere in September 2025 as predicted by a popular analyst TAnalyst
Source: https://coinpedia.org/price-analysis/top-reasons-why-bitcoin-price-may-soar-beyond-30000-this-month/