After it finally crossed the $30,000 psychological threshold, Bitcoin is currently looking at a strong resistance zone around $31,000, and if it manages to break it, a significant bull run could follow, and historical chart patterns suggest it might even reach $80,000 by the end of 2023.<\/p>\n\n\n\n
<\/p>\n\n\n\n
If Bitcoin fails to take out the resistance area at $31,000 this week, it could \u201cdraw down to $28,000 for a reload option from the bears. On the other hand, the more frequently a resistance line is tested, the weaker it becomes.<\/p>\n\n\n\n
<\/p>\n\n\n\n
Meanwhile, traders closely observe optimist expectations that the most famous cryptocurrency could hit $80,000 at the end of 2023. Bitcoin\u2019s bullish megaphone pattern was \u201cstill intact\u201d and that its upper-trendline target stood at $85,000 toward the year\u2019s end.<\/p>\n\n\n\n
<\/p>\n\n\n\n
Bitcoin was trading at the price of $30,661, indicating a recovery of 0.42% on the day and of 0.88% across the previous week, adding up to the more significant monthly gain of 12.87%.<\/p>\n\n\n\n
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It is also worth noting that the above prognosis is a lot more bullish than those of the self-learning machine algorithm deployed by the crypto tracking platform CoinCodex, which currently projects that the price of Bitcoin by the end of 2023 will move below the area of $38,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
After it finally crossed the $30,000 psychological threshold, Bitcoin is currently looking at a strong resistance zone around $31,000, and if it manages to break it, a significant bull run could follow, and historical chart patterns suggest it might even reach $80,000 by the end of 2023. If Bitcoin fails to take out the resistance …<\/p>\n","protected":false},"author":13,"featured_media":53010,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,36],"tags":[6904,10387],"class_list":["post-86054","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-market-updates","tag-bitcoin","tag-price-action"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/86054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=86054"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/86054\/revisions"}],"predecessor-version":[{"id":86055,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/86054\/revisions\/86055"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/53010"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=86054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=86054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=86054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}