Bitcoin Price This Tad Close To Reclaim $23,000 – Will It Hit The Target?

Bitcoin (BTC) easily brushed past the $22,500 mark today as seen a couple of hours ago. Bitcoin now trades at $22,342.12 BTC’s bull run triggered by Ethereum Merge Bitcoin registered 18% gains so far since September 9 Bitcoin was able to peak on a Monday and as shown on Coingecko charts, BTC was trading at $22,610, up 14.5% in the last seven days. The gains that BTC have registered is said to be brought about by the uptick in the stock market – kind of like a domino effect. Related Reading: Chainlink Integrates New Tech, And It’s Going Green – Healthy For LINK? BTC Offshoots Key Resistance Of $21K James of “Invest Answers”, a popular Bitcoin trader and influencer, have this notion that BTC is now veering towards the $24K mark. But, crypto experts are also quick to warn traders to be wary and avoid executing a pump-and-dump maneuver especially due to extremely risky macroeconomic conditions. On September 9, BTC has registered a nearly 20% gain so far and moved close towards the long-term descending trendline with a key resistance at $23,000. It seems that Bitcoin’s bullish movement has been triggered by the Ethereum Merge which is announced to be rolled out on September 14. BTC was also able to bounce back from a nearly oversold zone at 32 to now at a reading of 39. On-chain metrics also show the appearance of a bullish divergence with the RSI forming an ascending trendline with the coin’s weekly candlesticks cascading down. Re...