Bitcoin Analysis (1d): Recent Surge

The beginning of this week saw a remarkable upswing, propelling Bitcoin's value by an impressive 15%. The digital giant broke a significant barrier at $28,700, surging ahead to $30,000.

However, the journey doesn't stop here. What has captured our attention is Bitcoin’s recent breakout from a crucial resistance level at $28,700.

The present challenge lies in surpassing the formidable $31,000 mark, a zone with historical significance. This price point, which once served as solid support during the turbulent times of 2020 and 2021, is now a ‘resistance to be cracked next’.



Anticipation buzzes in the air, echoing the prospect of Bitcoin going parabolic should it soar above the $31,000 or even $32,000 thresholds. Yet, this is more than a speculative scenario; it represents a tangible opportunity. However, the prudent approach is to analyze, assess, and prepare for all eventualities.


While the temptation to surge upwards is strong, a strategic retreat might be in the cards. A brief regression to the previous resistance and support level at $28,700 isn't just a possibility but could be a healthy move. The lingering selling pressure from futures exchanges provides a substantial reason to consider this option seriously.