• Bitcoin’s price has broken through a critical technical resistance level, leading some investors to question whether the bear market is finally over.
• Technical analysis suggests that for the bull market to be fully confirmed, Bitcoin needs to surpass the upper trendline of the ascending channel and then retest it as a pullback.
• If Bitcoin gets rejected from this vital region and falls, the $25K range will serve as powerful support.
BTC Blasts Through $30K: Is Bear Market Finally Over?
Bitcoin’s price has finally managed to break through a critical technical resistance level of $30K, raising questions among investors about whether the bear market is finally over or not. To confirm this recent uptrend as the initiation of a new bull market, Bitcoin needs to surpass the upper trendline of its ascending channel and retest it in the form of a pullback. If rejected from this vital region and falls, however, $25K could serve as a powerful support.
The daily chart shows that since Bitcoin has broken above its static sentimental level of $30k, many participants believe that the bear market is over and that Bitcoin has found its bottom at $15K. On the other hand, its 4-hour chart reveals that after experiencing a significant spike above its consolidation correction wedge pattern and printing green candles in short term timeframe; if it manages to stay above $30K and successfully retest it as a pullback there might be potential for an extended bullish rally.
Support & Resistance Levels
The most important support levels are located at 25k & 15k while 30k serves as one main psychological resistance point. Other minor resistances can be seen around 31k–32k with 33–34k serving as ultimate test for current bullish momentum before further continuation towards previous all time highs around 42–43k
Factors Affecting Price Movement
Besides technical analysis there are several other factors which affect pricing such as fundamental news like upcoming halving events or regulatory news from governments/financial institutions which can act either positively or negatively on overall sentiment of crypto markets in general but also have direct influence on individual currencies like BTC itself — so one should always pay close attention when trading any digital asset!
Overall we can say that after breaking through 30k important psychological barrier there is still plenty room left for further upside move until we reach next major resistance around 43k (or even higher). However one should always keep track on major news events which could potentially trigger unexpected corrections – so make sure you do proper research before entering into any trade!