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Bitcoin Price Breaking Resistance at $23k and $25k : Bullish or Not Bullish ?

Key highlights

Bitcoin has managed to recover all of its losses from November 2022, when the #1 coin slipped to trade at $15,000. Since then, Bitcoin has attempted to rise further and clear 7 months of hurdle, in effect pushing the price above $25,000.


$23k : A Strong Resistance Point

After a strong rally that has seen Bitcoin’s price increase by nearly 50% since November 21st, the cryptocurrency has pulled back 1.5% in the past 48 hours and is currently consolidating below the important $23,000 level.

If Bitcoin can successfully challenge resistance between $23,000 and $25,000, that will be key to sustaining its uptrend revival – it could also signal the end of the bear market.

If and when Bitcoin breaks through the $23,000-$25,000 resistance region, there is a good chance it will continue to rise towards $30,000.

The fact that $23k is such a strong resistance point is worth considering.

Bitcoin Price Set To Go Up

By being relatively stable, experts believe could be a sign that the cryptocurrency is preparing for another surge. This will build up a bullish momentum.

Please note that this is only speculation at this point and that investors should always be cautious when investing in cryptocurrency .



Nadia Toughrani

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Nadia knows the ins and outs of Web3 and are here to help you successfully navigate the world of cryptocurrency, NFTs, DeFi, the Metaverse as well as other emerging trends as they arise.

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