Bitcoin bulls have one last hurdle before $35k

, but BTC miners and whales aided the distribution of the king coin. Despite market sentiment in recent weeks, demand and prices continued to grow, and could catch long-term bears offside.Source: BTC/USDT on TradingView

The daily timeframe bias for Bitcoin was bullish. The prices retested a crucial resistance in the vicinity of $30k. In particular, the $30.8k level served as resistance back in mid-April. A move above this level appeared likely. The trend has been bullish in 2023, although that doesn’t mean a bull run was on. Above $30.8k-$31.5k, the next levels of resistance to watch out for are $32.8k and $34.5k. The 100% Fibonacci extension level at $34.2k was a valid bullish target, especially if BTC can breakout past $30.8k.

The RSI was above 70 to show overbought conditions and the CMF was at +0.1 to show significant capital flow into the Bitcoin market. They showed that Bitcoin was likely to continue on its upward trajectory. Above the $30.8k resistance, there weren’t significant zones of opposition from the sellers until the $34k area. Hence, a move upward could see prices surge higher rapidly.

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