Bitcoin Price Bulls In Check, Signs of Fresh Increase above $21.5K

Jan 20, 2023 08:00 am Cryptocurrency 158

Bitcoin price is attempting a fresh increase above the $21,200 resistance zone. BTC could gain bullish momentum if there is a clear move above the $21,500 resistance.

Bitcoin corrected lower, but it found support near the $20,500 zones.

The price is trading above $21,000 and the 100 hourly simple moving average.

There is a short-term key bullish trend line forming with support near $21,050 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could start a fresh increase if there is a clear move above the $21,500 resistance zone.

Bitcoin Price Remains Supported

Bitcoin price started a downside correction from the $21,500 resistance zone. BTC declined below the $21,000 support zone, similar to ethereum.

However, the bulls were active near the $20,500 and $20,400 support levels. A low is formed near $20,395 and the price is now rising. There was a clear move above the $20,850 resistance zone. The bulls pushed the price above ..

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