Bitcoin Price Resumes Increase as The Crypto Bulls Take Control

Jan 16, 2023 04:00 am Cryptocurrency 114

Bitcoin price climbed further higher above $21,000. BTC is rising and might aim a move towards the $22,000 resistance zone in the near term.

Bitcoin climbed further higher above the $20,000 and $20,500 resistance levels.

The price is trading above $20,200 and the 100 hourly simple moving average.

There is a major bullish trend line forming with support near $20,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could rise further above the $21,500 resistance zone in the near term.

Bitcoin Price Gains Bullish Momentum

Bitcoin price gained a strong bullish momentum and settled above the $20,000 resistance zone. BTC even climbed above the $20,500 level to move into a positive zone.

The price consolidated for some time above the $20,500 level. A high is formed near $21,484 and the price is now showing signs of more upsides
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