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 .
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