{"id":419436,"date":"2023-07-16T11:02:36","date_gmt":"2023-07-16T11:02:36","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=419436"},"modified":"2023-07-16T11:02:36","modified_gmt":"2023-07-16T11:02:36","slug":"bitcoin-fails-to-sustain-climb-above-31k-but-some-indicators-suggest-a-breakout-is-imminent","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-fails-to-sustain-climb-above-31k-but-some-indicators-suggest-a-breakout-is-imminent","title":{"rendered":"Bitcoin Fails to Sustain Climb Above $31k, But Some Indicators Suggest a Breakout is Imminent\u00a0"},"content":{"rendered":"<p>Bitcoin pulled back to about $30k after failing to sustain a climb above the $31k resistance level, but some indicators suggests a breakout is imminent.<\/p>\n<p class=\"MsoNormal\" style=\"text-align: justify;line-height: 150%\">Trader Tardigrade <a href=\"https:\/\/coinmarketcap.com\/community\/post\/329482557\/\">posted on CoinMarketcap<\/a> that Bitcoin is currently at a breakout point, indicating that an upward climb is on the way.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-419446\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Bitcoin-Trader-Tardigrade.png\" alt=\"Bitcoin Trader Tardigrade Prediction\" width=\"1417\" height=\"775\" srcset=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Bitcoin-Trader-Tardigrade.png 1417w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Bitcoin-Trader-Tardigrade-300x164.png 300w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Bitcoin-Trader-Tardigrade-1024x560.png 1024w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Bitcoin-Trader-Tardigrade-768x420.png 768w\" sizes=\"(max-width: 1417px) 100vw, 1417px\"><\/p>\n<p class=\"MsoNormal\" style=\"text-align: justify;line-height: 150%\">However, the current slump due to BTC&rsquo;s failure to grow past the $31k mark has created a wave of negativity across CoinMarketcap, with many hoisting bearish flags and saying that Bitcoin may drop to $25k to $27k before experiencing any bullish waves. That despite generally buoyant sentiment toward crypto assets after Ripple Labs Inc.&rsquo;s landmark court victory against the Securities and Exchange Commission on Thursday.<\/p>\n<h2><strong>Bitcoin Price Fails to Sustain Above $31k&nbsp;<\/strong><\/h2>\n<p><a href=\"https:\/\/insidebitcoins.com\/cryptocurrency-price\/bitcoin-price\">Bitcoin&rsquo;s price<\/a> stood at $30.3k at 06:35 EST after earlier crossing its resistance line and rising as high as $31,809 when the news regarding the positive verdict in the Ripple case broke.<\/p>\n<h2 style=\"text-align: justify;line-height: 150%\"><b><span style=\"font-family: 'Calibri',sans-serif;color: windowtext\">Bitcoin Price Analysis<\/span><\/b><\/h2>\n<p class=\"MsoNormal\" style=\"text-align: justify;line-height: 150%\">Bitcoin is still less than 50% of its all-time high value of $69,000. The token may rebound from here if it maintains its resistance level of $30,000, according to crypto specialists, but if it breaks that mark, it may possibly go down as much as $28,000. Last week, Standard Chartered Bank <a href=\"https:\/\/insidebitcoins.com\/news\/standard-chartereds-new-bitcoin-price-prediction-sees-btc-at-120k-in-2024\">forecast<\/a> that Bitcoin will hit $50k this year and $120k by 2024.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BREAKING: $800 billion Standard Chartered Bank now forecasting $120,000 <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> price by 2024 <a href=\"https:\/\/t.co\/4oDzolG44p\">pic.twitter.com\/4oDzolG44p<\/a><\/p>\n<p>&mdash; Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/twitter.com\/BitcoinMagazine\/status\/1678346677965447171?ref_src=twsrc%5Etfw\">July 10, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The current candle chart for Bitcoin also suggests an optimistic outlook. After blowing past the $30k mark in June, Bitcoin has entered the accumulation zone.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-419447\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Bitcoin-Accumulation-Zone.png\" alt=\"Bitcoin Accumulation Zone\" width=\"1590\" height=\"1271\" srcset=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Bitcoin-Accumulation-Zone.png 1590w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Bitcoin-Accumulation-Zone-300x240.png 300w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Bitcoin-Accumulation-Zone-1024x819.png 1024w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Bitcoin-Accumulation-Zone-768x614.png 768w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Bitcoin-Accumulation-Zone-1536x1228.png 1536w\" sizes=\"(max-width: 1590px) 100vw, 1590px\"><\/p>\n<p>The token&rsquo;s MACD histogram is vastly above zero, indicating strong positive sentiment behind Bitcoin. The token&rsquo;s RSI is right in the middle, meaning that the community is expecting Bitcoin to hang around the $30 &ndash; 31k mark for a long time.<\/p>\n<p>That said, upon magnifying the chart, we found that an imperfect &ldquo;Dragonfly Doji&rdquo; had formed. That could mean a major positive breakout soon.<\/p>\n<p class=\"MsoNormal\" style=\"text-align: justify;line-height: 150%\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-419448\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Dragonfly-Doji-Bitcoin.png\" alt=\"Dragonfly Doji Bitcoin\" width=\"1591\" height=\"1253\" srcset=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Dragonfly-Doji-Bitcoin.png 1591w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Dragonfly-Doji-Bitcoin-300x236.png 300w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Dragonfly-Doji-Bitcoin-1024x806.png 1024w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Dragonfly-Doji-Bitcoin-768x605.png 768w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Dragonfly-Doji-Bitcoin-1536x1210.png 1536w\" sizes=\"(max-width: 1591px) 100vw, 1591px\"><\/p>\n<h2 style=\"text-align: justify;line-height: 150%\"><b><span style=\"font-family: 'Calibri',sans-serif;color: windowtext\">Chimpzee Would be A Good Alternative<\/span><\/b><\/h2>\n<p class=\"MsoNormal\" style=\"text-align: justify;line-height: 150%\">While Bitcoin&rsquo;s recent gains might attract new investors in the crypto market, smaller altcoins have stronger upside potential in the short term. One of those is <a href=\"https:\/\/insidebitcoins.com\/visit\/chimpzee\" rel=\"nofollow\">Chimpzee,<\/a>&nbsp;a green crypto project that has been gaining momentum in the past few months. The token has already raised more than $800k and is closing in on the conclusion of the current stage of its presale.<\/p>\n<p>Through its eco-friendly motive that focuses on protecting wildlife, Chimpzee might be favored by environmentally friendly crypto enthusiasts.<\/p>\n<p>The token&rsquo;s current 7th presale stage also comes with a 125% bonus.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Hello <a href=\"https:\/\/twitter.com\/hashtag\/ChimpzeeArmy?src=hash&amp;ref_src=twsrc%5Etfw\">#ChimpzeeArmy<\/a>!&#128018;<\/p>\n<p>Join the 7th Stage of the <a href=\"https:\/\/twitter.com\/hashtag\/Presale?src=hash&amp;ref_src=twsrc%5Etfw\">#Presale<\/a> and get <a href=\"https:\/\/twitter.com\/search?q=%24CHMPZ&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$CHMPZ<\/a> at the lowest price in the Gold Stages!&#129689;&#128640;<\/p>\n<p>&#128293;Receive a 125% Bonus<br>&#10145;&#65039;Price Now &ndash; $0.0007<br>&#128680;Stage 8 Price &ndash; $0.000775<br>&#9989;Listing Price &ndash; $0.00185<a href=\"https:\/\/t.co\/Geog3EVuMC\">https:\/\/t.co\/Geog3EVuMC<\/a><a href=\"https:\/\/twitter.com\/hashtag\/GreenCrypto?src=hash&amp;ref_src=twsrc%5Etfw\">#GreenCrypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/EcoCrypto?src=hash&amp;ref_src=twsrc%5Etfw\">#EcoCrypto<\/a> <a href=\"https:\/\/t.co\/WLu7yMosVu\">pic.twitter.com\/WLu7yMosVu<\/a><\/p>\n<p>&mdash; Official Chimpzee Project (@RealChimpzee) <a href=\"https:\/\/twitter.com\/RealChimpzee\/status\/1679077221862965251?ref_src=twsrc%5Etfw\">July 12, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"MsoNormal\" style=\"text-align: justify;line-height: 150%\">Due to its ongoing presale, you can get your hands on CHMPZ tokens for a discounted price of $0.0007. The listing price of these tokens is kept at $0.00185. Get a better analysis of this token through this video.<\/p>\n<p><iframe title=\"Chimpzee Presale Raises $800,000 - Important News For This New Crypto\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/pAIs5IrJXO8?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>Being a green asset gives Chimpzee definite upsides. Early movers might want to visit <a href=\"https:\/\/insidebitcoins.com\/visit\/chimpzee\" rel=\"nofollow\">chimpzee.io<\/a> to participate in this presale round.<\/p>\n<p class=\"MsoNormal\" style=\"text-align: justify;line-height: 150%\"><b>Read More<\/b><\/p>\n<ul style=\"margin-top: 0cm\" type=\"disc\">\n<li class=\"MsoNormal\" style=\"text-align: justify;line-height: 150%\"><a href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/next-cryptocurrency-to-explode\">Next Cryptocurrency To Explode 2023<\/a><\/li>\n<li class=\"MsoNormal\" style=\"text-align: justify;line-height: 150%\"><a href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/greenest-cryptocurrency\">Greenest Cryptos to Buy<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/best-crypto-to-buy-now-july-15-injective-mr-hankey-bnb\">Best Cryptos to Buy on July 15th<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">Bitcoin pulled back to about $30k after failing to sustain a climb above the $31k resistance level, but some indicators suggests a breakout is imminent. <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/bitcoin-fails-to-sustain-climb-above-31k-but-some-indicators-suggest-a-breakout-is-imminent\" title=\"Bitcoin Fails to Sustain Climb Above $31k, But Some Indicators Suggest a Breakout is Imminent\u00a0\">[&#8230;]<\/a><\/div>","protected":false},"author":1868,"featured_media":419449,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[7596],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.0 (Yoast SEO v22.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Fails to Sustain Climb Above $31k, But Some Indicators Suggest a Breakout is Imminent\u00a0<\/title>\n<meta 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Compare Brokers within Crypto, Forex &amp; Stocks","publisher":{"@id":"https:\/\/insidebitcoins.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/insidebitcoins.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/insidebitcoins.com\/#organization","name":"InsideBitcoins","url":"https:\/\/insidebitcoins.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/","url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg","contentUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg","width":195,"height":32,"caption":"InsideBitcoins"},"image":{"@id":"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/insidebitcoins.com\/#\/schema\/person\/6a85ebbaffc114bacdc81388836ae0c7","name":"Prateek Arora","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/insidebitcoins.com\/#\/schema\/person\/image\/","url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/01\/avatar_user_1868_1642445723-96x96.jpg","contentUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/01\/avatar_user_1868_1642445723-96x96.jpg","caption":"Prateek Arora"},"description":"Prateek is an experienced writer in the crypto niche with several bylines in reputed websites as well as here at InsideBitcoins. Prateek enjoys breaking down complex topics related to Fintech, the stock market, cryptocurrency, decentralized finance and accountancy so they could be read by a wider audience. His latest crypto news coverage has a focus on how to survive the bear market. An avid traveler, and reader, Prateek likes building assets that could generate passive income. 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