{"id":18674,"date":"2023-03-13T17:42:39","date_gmt":"2023-03-13T17:42:39","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-adds-4000-candle-in-24-hours-as-bulls-break-24k\/"},"modified":"2023-03-13T17:42:39","modified_gmt":"2023-03-13T17:42:39","slug":"bitcoin-adds-4000-candle-in-24-hours-as-bulls-break-24k","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-adds-4000-candle-in-24-hours-as-bulls-break-24k\/","title":{"rendered":"Bitcoin adds $4,000 candle in 24 hours as bulls break $24K"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1678728044842-c4641ba1-b8c1-40e2-8aa8-28e966d623ae-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1678728044842-c4641ba1-b8c1-40e2-8aa8-28e966d623ae-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1678728044842-c4641ba1-b8c1-40e2-8aa8-28e966d623ae-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1678728044842-c4641ba1-b8c1-40e2-8aa8-28e966d623ae-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Bitcoin breaks above $24,000 as positive sentiment pushes BTC higher.<\/li>\n<li dir=\"ltr\">Analysts say BTC remains in \u201cdanger zone\u201d unless bulls break and hold $25k.<\/li>\n<li dir=\"ltr\">IntoTheBlock analysts suggest the next major target could be $30,000.<\/li>\n<\/ul>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin<\/a> broke above the $24,000 level, soaring a massive $4,000 candle in just over 24-hours to leave bulls targeting a new breakout above $25,000.<\/p>\n<p dir=\"ltr\">In our Bitcoin price prediction <a href=\"https:\/\/coinjournal.net\/news\/bitcoin-price-prediction-btc-weekly-close-invalidates-double-top-formation\/\">article<\/a> this morning, we highlighted an analysis by popular crypto analyst Rekt Capital. In it, the analyst simply pointed to Bitcoin price having invalidated a double top formation when it rallied from under $20,000 to a weekly close above $21,770.<\/p>\n<p dir=\"ltr\">According to the analyst\u2019s technical outlook for BTC, a break higher was likely given the retest of range lows on the daily chart.<\/p>\n<p dir=\"ltr\">While he suggested a continued range consolidation, he pointed to the potential for bulls to break higher. That came sooner as BTC forced its way above $24,000 amid a spectacular bounce for cryptocurrencies after last week\u2019s sharp declines. But can Bitcoin maintain this upside momentum? Here are what some analysts are saying:<\/p>\n<h2 dir=\"ltr\">Bitcoin price spikes above $24K \u2013 analysts share technical outlook<\/h2>\n<p dir=\"ltr\">At current prices, Bitcoin is about $500 \u201cfrom challenging the macro downtrend,\u201d Rekt Capital has noted. If this happens, BTC could be poised for a huge breakout \u2013 possibly with a new macro uptrend in the picture on the monthly chart.<\/p>\n<p dir=\"ltr\">\u201c<em>BTC Monthly RSI looks like it has successfully retested the 2015 &amp; 2018 Bear Market Bottom area as new support<\/em>,\u201d he added in another tweet.<\/p>\n<p dir=\"ltr\">According to the analyst, Bitcoin still needs to break the macro downtrend line at $25k for a technical breakout in March. Maintaining the positive outlook could see BTC break the macro downtrend in April with breakout price point around $23,400.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The Macro Downtrend <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> breakout price for the month of March is ~$25000<\/p>\n<p>But in April, the <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> Macro Downtrend breakout price will be ~$23400<\/p>\n<p>If BTC keeps this up heading into April, it will register a technical breakout just by maintaining the highs<a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a href=\"https:\/\/t.co\/9VWI54oql4\">pic.twitter.com\/9VWI54oql4<\/a><\/p>\n<p>\u2014 Rekt Capital (@rektcapital) <a href=\"https:\/\/twitter.com\/rektcapital\/status\/1635314003814801408?ref_src=twsrc%5Etfw\">March 13, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">Like Rekt Capital, crypto analyst Altcoin Sherpa <a href=\"https:\/\/twitter.com\/AltcoinSherpa\/status\/1635308116576436225\" rel=\"noopener noreferrer\" target=\"_blank\">suggests<\/a> bulls aren\u2019t completely out of the woods yet. For him, the price needs to break above and hold support at $25,000. If not, BTC remains in \u201c<em>a danger zone<\/em>.\u201d<\/p>\n<p dir=\"ltr\">\u201c<em>BTC: Some high time frame resistance areas, I view this current area as a danger zone. 1W 200 EMA + S\/R level that price couldn\u2019t break over a few weeks. If we flip $25k soundly, I think we blitz to 30kish areas<\/em>.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a>: Some high time frame resistance areas, I view this current area as a danger zone. 1W 200 EMA + S\/R level that price couldn&#8217;t break over a few weeks. If we flip $25k soundly, I think we blitz to 30kish areas. <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> <a href=\"https:\/\/t.co\/dpcRWPf0M1\">pic.twitter.com\/dpcRWPf0M1<\/a><\/p>\n<p>\u2014 Altcoin Sherpa (@AltcoinSherpa) <a href=\"https:\/\/twitter.com\/AltcoinSherpa\/status\/1635308116576436225?ref_src=twsrc%5Etfw\">March 13, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">According to IntoTheBlock, Bitcoin faced a significant hurdle in the $22,650- $23,325 region after bulls\u2019 strong bounce in the $19,000 area. This supply zone coincided with a zone where 1.14million addresses had acquired BTC, with the average price around $23,022.<\/p>\n<p dir=\"ltr\">But after the swift bounce above this level, on-chain data suggests the next major target is $30,000.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">It looks like everyone took this as a challenge. <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> ran past $23k and all eyes are slowly focussing on $30k <a href=\"https:\/\/t.co\/CnwF5p8pDW\">https:\/\/t.co\/CnwF5p8pDW<\/a><\/p>\n<p>\u2014 IntoTheBlock (@intotheblock) <a href=\"https:\/\/twitter.com\/intotheblock\/status\/1635321010626105345?ref_src=twsrc%5Etfw\">March 13, 2023<\/a><\/p>\n<\/blockquote>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-breaks-above-24k-as-analyst-predict-what-btc-could-do-next\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Bitcoin breaks above $24,000 as positive sentiment pushes BTC higher. Analysts say BTC remains in \u201cdanger zone\u201d unless bulls break and hold $25k. IntoTheBlock analysts suggest the next major target could be $30,000. Bitcoin broke above the $24,000 level, soaring a massive $4,000 [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":18675,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/18674"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=18674"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/18674\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/18675"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=18674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=18674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=18674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}