{"id":178083,"date":"2023-10-20T21:26:05","date_gmt":"2023-10-20T15:56:05","guid":{"rendered":"https:\/\/dripp.zone\/news\/whats-the-next-target-of-ongoing-recovery-crypto-news\/"},"modified":"2023-10-20T21:26:09","modified_gmt":"2023-10-20T15:56:09","slug":"whats-the-next-target-of-ongoing-recovery-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/whats-the-next-target-of-ongoing-recovery-crypto-news\/","title":{"rendered":"What&#8217;s the Next Target of Ongoing Recovery? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-162018\">\n<p>\nBitcoin Price Prediction: The BTC price breakout from $28600 set the current recovery to hit the $32000 mark. Time to buy\t\t\t\t<\/p>\n<p><!--\n     \n\n<div class=\"marketThumbs\">\n             <noscript><img width=\"1200\" height=\"681\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/fNFvFCVt-e1697816558896.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"BTC price\" decoding=\"async\" fetchpriority=\"high\" \/><\/noscript><\/div>\n\n\n--><\/p>\n<p class=\"MarketsUp f-14 d-block\">Published 8 seconds ago  <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400\">Bitcoin Price Prediction: The leading cryptocurrency Bitcoin appears to be embracing the tradition of the \u2018Uptober rally\u2019. After an indecisive start to the month, buyers took control in the third week, propelling the price from a low of $26,500. The buzz around a potential approval of Bitcoin\u2019s spot ETF fueled this momentum, culminating in a breakout from a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/markets\/bitcoin-price-prediction-as-buyers-break-90-days-correction\/\">90-day correction trend<\/a>.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/crypto-news-33000-bitcoin-exit-exchange-wallets-in-just-five-days\/\">Over 33,000 Bitcoin Exit Exchange Wallets in Just Five Days, Bullish Move Incoming?<\/a><\/p>\n<h2><b>Is Current Recovery Sustainable?<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The Bitcoin Fear and Greed Index at 53% reflects a neutral sentiment in the market<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The lone-wick rejection around $30000 indicates the overhead supply is aggressive<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The intraday trading volume in Bitcoin is $23 Billion, indicating a 93% gain.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><img decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"TradingView Chart\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/f\/fNFvFCVt.png\"\/><noscript><img decoding=\"async\" src=\"https:\/\/s3.tradingview.com\/snapshots\/f\/fNFvFCVt.png\" alt=\"TradingView Chart\"\/><\/noscript>Source-<\/span><span style=\"font-weight: 400\">Tradingview<\/span><\/p>\n<p><span style=\"font-weight: 400\">From the October 13th low of $26694, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/bitcoin\/\">Bitcoin price<\/a> has surged 10.98% to currently trading at $29,570. The ascent recorded a crucial breakout on October 16th from a downsloping resistance trendline that had dictated the correction trend over the last three months.\u00a0<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400\">This bullish breakout is indicative of a significant shift in market sentiment. Despite the swirling volatility earlier this week, largely due to speculation about the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/will-tesla-add-more-bitcoins-ahead-of-spot-bitcoin-etf-approval\/\">future of Bitcoin\u2019s spot ETF<\/a>, the asset has managed to hold above the $28,000 psychological level.\u00a0<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">This suggests that buyers possess enough momentum to extend the current recovery. With an intraday gain of 2.89% backed by a noticeable spike in trading volume, the ongoing recovery appears sustainable.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">If this buying pressure continues, the BTC price could potentially climb another 8% to retest its July 13th peak at $32,000.<\/span><\/p>\n<h2><b>BTC vs ETH Performance<\/b><\/h2>\n<p><span style=\"font-weight: 400\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-162020\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"BTC vs ETH\" width=\"1200\" height=\"675\" data-lazy-src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/image_2023-10-20_21-08-01-e1697816732671.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-162020\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/image_2023-10-20_21-08-01-e1697816732671.png\" alt=\"BTC vs ETH\" width=\"1200\" height=\"675\"\/><\/noscript>Source: Coingape| Bitcoin Vs Ethereum Price<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p><span style=\"font-weight: 400\">In the past quarter, the leading cryptocurrencies Bitcoin and Ethereum have displayed diverging price trends. The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/ethereum\/\">Ethereum price<\/a> trajectory has maintained its existing downtrend, marked by successive lower lows. While the Bitcoin price has been charting a bullish course, consistently hitting new higher highs. Amid this rally, the coin price surpassed the previous swing high of $28,000, highlighting the likelihood of continued upward momentum.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><b>Average Directional Index: <\/b><span style=\"font-weight: 400\">The ADX slope surpassed the 32% mark reflecting that the buying may exhausted and would need some pullback to recuperate the bullish momentum<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Exponential Moving Average: <\/b><span style=\"font-weight: 400\">The potential bullish crossover between the 50-and-100-day <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/exponential-moving-average-how-to-leverage-it-in-crypto-market\/\">EMA<\/a> slope would increase the recovery sentiment in the market.<\/span><\/li>\n<\/ul><\/div>\n<div class=\"MarketBottm\">\n<div class=\"Socilsm\">\n<p>\n                    Share this article on:<\/p>\n<div class=\"LinksSo\">\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.me\/share\/url?url=https:\/\/coingape.com\/markets\/bitcoin-price-prediction-whats-next-target-of-recovery\/&#038;text=Bitcoin Price Prediction: What\u2019s the Next Target of Ongoing Recovery?\u00a0\" class=\"TeleS\"><i class=\"fa fa-paper-plane-o\"\/><\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/markets\/bitcoin-price-prediction-whats-next-target-of-recovery\/\" data-action=\"share\/whatsapp\/share\" class=\"TeleSwp\"><i class=\"fa fa-whatsapp\"\/><\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/share?url=https:\/\/coingape.com\/markets\/bitcoin-price-prediction-whats-next-target-of-recovery\/\" class=\"tw_new_logo\"><br \/>\n<img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\"\/><\/noscript><br \/>\n<\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https:\/\/coingape.com\/markets\/bitcoin-price-prediction-whats-next-target-of-recovery\/\" class=\"TeleSFb\"><i class=\"fa fa-facebook\"\/><\/a>\n                    <\/div>\n<\/p><\/div>\n<\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA162018\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD162018\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p>     <!--           <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\">Close Story<\/a>--><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin Price Prediction: The BTC price breakout from $28600 set the current recovery to hit the $32000 mark. Time to buy Published 8 seconds ago Bitcoin Price Prediction: The leading cryptocurrency Bitcoin appears to be embracing the tradition of the \u2018Uptober rally\u2019. After an indecisive start to the month, buyers took control in the third [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":178084,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-178083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/178083","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=178083"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/178083\/revisions"}],"predecessor-version":[{"id":178085,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/178083\/revisions\/178085"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/178084"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=178083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=178083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=178083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}