Bitcoin faces 2023 resistance levels next after the weekly close sees a 3% BTC price push.
BTC
$30,649 hit new three-month highs on Oct. 23 as the week’s first Asia trading session produced snap gains.
BTC/USD 1-hour chart. Source: TradingView
Bitcoin bulls face crunch BTC price resistance
BTC price adding momentum to reach $30,944
The largest cryptocurrency saw its first weekly close above $30,000 since the summer, going on to tackle levels closer to key long-term resistance. This included the 2023 high, currently at $31,800.
“Bitcoin is back at key resistance for the third time in 6 months,” popular trader Jelle responded in one of the day’s X posts.
“Time to be cautious, but I don’t think you want to be bearish here just because we’re reaching resistance. The level will eventually give in .
Altcoins catch a break
Elsewhere, research firm Santiment spied a new crypto market setup accompanying Bitcoin’s latest gains.
Altcoins, it noted, were moving higher in step — a phenomenon not seen during recent prior taps of $30,000.
“Altcoin positions continue to print money,” Jelle wrote in part of a cross-crypto update, arguing that while caution was warranted, “not many people are ready for whats going to happen in the next months.”
, Bitcoin was continuing to pressure $31,000, with around six hours until the Wall Street open
BTC/USD 1-day chart. Source: TradingView
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