Bitcoin: Why $34k is the next target for bulls

Bitcoin’s [BTC] Price PredictionThe US Federal Reserve’s decision to pause interest rate hikes was received well in traditional markets. Furthermore, Bitcoin spot ETF applications boosted sentiment, although the SEC’s lawsuits against some of the largest players in the market gave investors some cause for concern.The 2020/2021 bull run saw BTC prices rise by more than 500%.

But, if the recent strength continues, such a move upward might be possible. The daily timeframe structure break was seen on 20 June. Bitcoin exploded higher on 21 June to break past another lower high at $28.5k.

Source: Digital Coin News (digitalcoinnews.net)

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