LIVERecent BTC Price Breakout Open Up Gates for Bitcoin At $31,000, Details
The Bitcoin price has given a strong breakout above its 200-day moving average suggesting a continued rally to its 2023-highs of $31,000.
It seems to be a great start to Q4 2023 and the early signs of Uptober are already here! The Bitcoin (BTC) price has shot by more than 3.57% in the past few hours giving a crucial breakout above $28,000.As per the technical chart, this opens up the gates for the BTC price to surge all the way to $31,000. It means that investors can brace for another 10% price rally from the current levels.
As of press time, BTC is trading at $28,125 with a market cap of $548 billion. With this breakout, Bitcoin has also surged past its 200-day moving average which is a bullish sign.
Should buyers effectively breach the converging 200-day and 100-day moving averages situated at $28,000 Bitcoin’s price could see an additional surge. The next formidable resistance that investors face is at $30,000. But some market analysts also think that it would not be wise to go chasing the green candle formation for now.
