{"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,"footnotes":""},"categories":[7596],"tags":[],"class_list":["post-419436","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - 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