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 has rallied once more above $24,000. This impressive rally follows an intense week where the FOMC\u2019s announcement has basically shown that the United States is now in a recession. Investors had flocked to the bitcoin off the back of the news, causing the digital asset to surge immensely during this time. As the digital asset has beat one important technical level, it remains to see if it can beat another. Accumulation Triggers Rally There are a lot of factors that usually trigger a rally, such as the one that has sent the price of bitcoin soaring high. One of those has been a renewed accumulation trend from investors who are flocking to the digital asset to provide cover during uncertain economic times. Such a rally, if it continues, can put the digital asset on a well-established bull trend. Related Reading |\u00a0Bitcoin Bounces Off Consolidation Range, What Lies In Store? However, there are still obstacles in the way of bitcoin. This means that even though the digital asset continues to rise now, it could very well witness a reversal trend that sends it spiraling back downwards. To avoid such a fate, it is important that the sellers are completely cut out, replacing these investors and traders with more determined long-term holders. BTC’s hold on $24,000 remains shaky | Source: BTCUSD on TradingView.com Whales have been a subset that has been trying to reverse the sell-offs. With the decline in bitcoin, it had presented an opportunity for investors to increase their holdings, and it was especially prominent among investors holding between 100-1,000 BTC on their balances. Can bitcoin Reach $28,000? Bitcoin\u2019s recovery has put it on an impressive bullish path. However, this bullish trend has not been fully established. It has seen some obstacles along the way, and bears have begun to put up resistance in the market.\u00a0 An example has been at the $24,000 level. Although bitcoin has been able to beat this level multiple times, it continues to fight a hard battle to hold onto it. The mounting resistance at this point has proven to be an important level for bears to hold. Related Reading |\u00a0Elevated Bitcoin Open Interest Levels Puts Market In Vulnerable Position For the cryptocurrency to reach $28,000, it would have to beat the resistance at $24,000 and further at $25,000. Furthermore, there is an expected resistance at $28,000, given that it was the yearly low for bitcoin in 2021. However, if accumulation continues to ramp up at the rate it is, the digital asset has a good chance of reaching this high. Featured image from GoBanking Rates, 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":497052,"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":[428,679,86466,1119,1144,78790],"class_list":["post-497049","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-bitcoin-trend","tag-btc","tag-btcusd","tag-btcusdt"],"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":"Impressive Rally Puts Bitcoin Above $24,000, But Is $28,000 Still Possible?","url":"http:\/\/wncen.com\/news\/impressive-rally-puts-bitcoin-above-24000-but-is-28000-still-possible\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/impressive-rally-puts-bitcoin-above-24000-but-is-28000-still-possible\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/bitcoin-14.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/bitcoin-14.jpeg?fit=1920%2C1080"},"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","bitcoin trend","btc","btcusd","btcusdt"],"dateCreated":"2022-07-29T17:00:34Z","datePublished":"2022-07-29T17:00:34Z","dateModified":"2024-06-11T14:22:00Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Impressive Rally Puts Bitcoin Above $24,000, But Is $28,000 Still Possible?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/impressive-rally-puts-bitcoin-above-24000-but-is-28000-still-possible\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/impressive-rally-puts-bitcoin-above-24000-but-is-28000-still-possible\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/07\\\/bitcoin-14.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/07\\\/bitcoin-14.jpeg?fit=1920%2C1080\"},\"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\",\"bitcoin trend\",\"btc\",\"btcusd\",\"btcusdt\"],\"dateCreated\":\"2022-07-29T17:00:34Z\",\"datePublished\":\"2022-07-29T17:00:34Z\",\"dateModified\":\"2024-06-11T14:22:00Z\"}<\/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\/07\/bitcoin-14.jpeg?fit=1920%2C1080","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/497049"}],"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=497049"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/497049\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/497052"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=497049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=497049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=497049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}