Bitcoin Bulls Keeps Pushing, Why BTC Price Increase Isn’t Over Yet

Bitcoin Bulls Keeps Pushing, Why BTC Price Increase Isn’t Over Yet

Bitcoin price gained pace and traded above $23,000. BTC is consolidating gains and might start another increase towards $23,500.


  • Bitcoin traded to a new yearly high at $23,428 before it started a downside correction.

  • The price is trading above $22,000 and the 100 hourly simple moving average.

  • There is a major bullish trend line forming with support near $22,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).

  • The pair could start a fresh increase if it stays above the $22,000 support zone.

  • Bitcoin Price Eyes Additional Gains


    Bitcoin price started a major increase above the $21,500 resistance zone. BTC gained pace and even broke the $22,000 resistance zone, similar to ethereum at $1,550.


    The price surged above the $22,500 level and settled well above the 100 hourly simple moving average. It traded to a new yearly high at $23,428 and recently started a minor downside correction. There was a minor move below the $23,000 level.


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