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bitcoin 2023 rally 39K

Bitcoin Price Blasts Back Above $39K For First Time Since May 2022

Tony "The Bull" Severino, CMT
by Tony "The Bull" Severino, CMT
1 year ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin price just breached above $39K for the first time in 2023, and the first time since May 2022.

With the latest resistance taken, what’s next for the top cryptocurrency by market cap?

Bitcoin Surpasses $39K As 2023 Rally Continues

Bitcoin price action is heating up on a Saturday afternoon, breaking above local highs and making it above $39K.

Related Reading: Is The Crypto Market About To Go Supernova?

The move represents yet another higher high, another 2023 high, and has triggered several technical signals. More importantly, with BTCUSD now within striking distance of $40K, things are starting to get a lot more interesting for the cryptocurrency market.

BTCUSD_2023-1202_18-42-15

Bitcoin breaks above $39,000. Is $40,000 next? |  BTCUSD on TradingView.com

Ethereum Joins In On The Crypto Market Rally

An important factor helping spark increased momentum in Bitcoin, is joint participation from Ethereum, which has lagged up until recently.

Related Reading: Why The Next Bitcoin Climax Could Be Less Than Six Months Away

With additional market breadth, BTCUSD pushed higher along with several altcoins. Above $40K, and Bitcoin could find its way back around $50K or possibly even all-time highs before the end of the month.

Tony is the author of the CoinChartist (VIP) newsletter. Sign up for free. Follow @TonyTheBullBTC & @coinchartist_io on Twitter. Or join the TonyTradesBTC Telegram for daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from Shutterstock, Charts from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Tony "The Bull" Severino, CMT

Tony "The Bull" Severino, CMT

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Tony "The Bull" Severino, CMT, a technical analyst and Head of Research at Bitcoinist. As the founder of CoinChartist.io, an educational platform for crypto traders focused on technical analysis, Tony provides his expertise to help others understand and apply this methodology. He has partnered with industry leaders like Elliott Wave International and TradingView. Through his partnerships, educational resources, and leadership roles, Tony has established himself as an authority on leveraging technical analysis to trade cryptocurrencies.

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