Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

Jan 26, 2023 04:00 am Cryptocurrency 130

Bitcoin price started a fresh increase from the $22,400 support zone. BTC climbed to a new yearly high and now aims more upsides above $24,000.

Bitcoin started a fresh increase after forming a base near the $22,400 support zone.

The price is trading above $23,000 and the 100 hourly simple moving average.

There was a break above a major bearish trend line with resistance near $23,000 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 $23,000 support zone.

Bitcoin Price Restarts Increase

Bitcoin price saw a downside correction below the $23,000 level. However, BTC remained well bid near the $22,400 support zone. A low was formed near $22,341 and the price started a fresh increase.

There was a clear move above the $23,000 resistance zone. Besides, there was a break above a major bearish trend line with resistance near $23,000 on the ..

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