Best Owie on Twitter<\/i><\/b><\/a> for market insights, updates, and the occasional funny tweet\u2026<\/i><\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"Bitcoin\u2019s trajectory in the recent recovery showed a clear intent from bulls to target the $28,000. While it hit some important milestones in its big to reach this level, it has been unsuccessful in reclaiming it. The tug-of-war between the bears and the bulls continues as the fight for control wages on. Given this, there is now a critical technical level that the price of bitcoin must clear before it is able to continue on its campaign to reach $28,000. Capitulate And Breakout Bitcoin has held considerably better than what was predicted for the digital asset a couple of weeks ago. Going by the previous bear markets, it was expected that the price would quickly reverse following a small recovery. But instead, bitcoin has been able to grow as high as $25,000 in this time, although it was unable to hold this level. This shows the resilience of bitcoin even when the market looks unfavorable. Related Reading: Bitcoin And Ethereum Retrace Before Crypto Sentiment Could Reach \u201cGreed\u201d However, the bitcoin price has been unable to reach an essential point that bulls were trying to get it to, which is the $28,000 level. Instead, it had encountered resistance at $25,000 and had been pushed back down towards the $23,000. What bitcoin needs at this point is to break the May capitulation levels of $25,000. This spot had held up quite well during the fall from $30,000, and bears have now made this a point of resistance for the digital asset going forward.\u00a0 If bitcoin\u2019s price is able to break through the resistance at $25,000, it will have broken the nearest significant resistance for bears, and little resistance remains to keep it from reclaiming the $27,000 to $28,000 levels. Bitcoin Refuses To Budge Bitcoin price has been recording higher lows through the recovery, and that has not changed with the recent retracement. The price decline had stopped right above $23,000, decidedly higher than its previous low of $22,250. This proves the mounting support that has been witnessed at $23,000. These higher lows consistently put the digital asset stopping above its 50-day moving average. This essential technical level is one that determines if the price of bitcoin is finally moving out of its bullish trend. And given the recent movements, it is safe to assume that the digital asset still has some steam left in it. Related Reading: Flippening Forewarning? Ether Options Overtake Bitcoin As The Top Crypto To Trade It is also worthy to note that most of the gains have come from the expectations surrounding the Ethereum Merge. Since it is the biggest upgrade in recent crypto history, the excitement has done well enough to push market prices higher. The Merge is still about a month away, going by what the Ethereum developers have said. September 19th is the expected date for the Merge, so the days leading up to it are expected to be more bullish. This means that the crypto market has about a month of bullish movements left to go, making it more likely that bitcoin will retest $25,000. Featured image from FortuneBuilders, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026<\/p>\n","protected":false},"author":541,"featured_media":499196,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1119,1144,79520,84008],"class_list":["post-499164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusd","tag-xbtcusd","tag-xbtcusdt"],"acf":[],"yoast_head":"\n
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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Must Clear This Level If It Wants To See $28,000","url":"http:\/\/wncen.com\/news\/bitcoin-price-must-clear-this-level-if-it-wants-to-see-28000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-must-clear-this-level-if-it-wants-to-see-28000\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/bitcoin-6.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/bitcoin-6.jpeg?fit=1000%2C668"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btc","btcusd","xbtcusd","xbtcusdt"],"dateCreated":"2022-08-18T17:00:22Z","datePublished":"2022-08-18T17:00:22Z","dateModified":"2024-06-11T14:22:43Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Must Clear This Level If It Wants To See $28,000\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-must-clear-this-level-if-it-wants-to-see-28000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-must-clear-this-level-if-it-wants-to-see-28000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/bitcoin-6.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/bitcoin-6.jpeg?fit=1000%2C668\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btc\",\"btcusd\",\"xbtcusd\",\"xbtcusdt\"],\"dateCreated\":\"2022-08-18T17:00:22Z\",\"datePublished\":\"2022-08-18T17:00:22Z\",\"dateModified\":\"2024-06-11T14:22:43Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/bitcoin-6.jpeg?fit=1000%2C668","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/499164","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=499164"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/499164\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/499196"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=499164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=499164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=499164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}