{"id":28833,"date":"2022-06-01T10:32:34","date_gmt":"2022-06-01T14:32:34","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=28833"},"modified":"2022-06-01T10:33:13","modified_gmt":"2022-06-01T14:33:13","slug":"bitcoin-btc-price-rallies-above-30k-will-it-confirm-this-key-levels","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitcoin-btc-price-rallies-above-30k-will-it-confirm-this-key-levels\/","title":{"rendered":"Bitcoin (BTC) Price Rallies Above $30K, Will It Confirm This Key Level?"},"content":{"rendered":"\n
Bitcoin (BTC) seems to be arousing some confidence among its traders after the cryptocurrency recently rallied above $30,000<\/a>.<\/h5>\n\n\n\n
\"Bitcoin<\/figure>\n\n\n\n

But Analysts are cautious about the recovery's nature, with many warning that it could be a “dead cat bounce.”<\/p>\n\n\n\n

Bitcoin is currently trading at $31,500, up roughly 7% in the last three days. While it has recovered above $30,000, popular Twitter analyst @CryptoDonAlt\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> believes that it needs to confirm at least two more levels for a breakout.<\/p>\n\n\n\n

Until the token has more than halved from a record high hit last year, sentiment is likely to stay bearish.<\/p>\n\n\n\n

BTC must first confirm $31,800 before moving on to $34,000<\/strong><\/h3>\n\n\n\n

CryptoDonAlt said in a Tweet that the token has struggled to confirm $31,800, and is now “bearishly retesting” the same area. While the token has recently traded as high as $32,000, it has nearly immediately dropped below that level.<\/p>\n\n\n\n

After clearing $31,800, BTC will face $34,000 as its next resistance point before a breakout. However, clearing this could set the token up for additional gains.<\/p>\n\n\n\n

Kinda have to lean bearish here, at least until $34k is reclaimed and closed above. If we do reclaim it though, I\u2019m down to full send it.<\/em><\/p>\n\n\n\n

–CryptoDonAlt<\/em><\/p>\n\n\n\n

Bitcoin follows the stock market's rise<\/strong><\/h3>\n\n\n\n

A bulk of BTC's recent gains have been driven by a strong recovery in stock markets. For example, the Nasdaq 100<\/a>, BTC's closest stock market counterpart, has risen 7% in the last five days, with a similar performance from the token.<\/p>\n\n\n\n

However, U.S. stock futures<\/use><\/svg><\/span><\/a> indicate that the rise may be winding down, with Wall Street set for a largely flat open today.<\/p>\n\n\n\n

As such, BTC's recovery bounce may calm down similarly, keeping the token in a bearish trend for the short term.<\/p>\n\n\n\n

The factors that contributed to the stock and cryptocurrency market's downturn are still in play. This year, rising inflation and interest rates have stifled demand for risk-driven assets <\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) seems to be arousing some confidence among its traders after the cryptocurrency recently rallied above $30,000. But Analysts are cautious about the recovery’s nature, with many warning that it could be a “dead cat bounce.” Bitcoin is currently trading at $31,500, up roughly 7% in the last three days. While it has recovered […]<\/p>\n","protected":false},"author":32,"featured_media":28835,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83],"tags":[152],"class_list":["post-28833","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/bitcoin-price-rally.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/28833","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=28833"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/28833\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/28835"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=28833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=28833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=28833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}