Bitcoin Price Resumes Uptrend as The Bulls Aim The Key $25K Barrier

Jan 30, 2023 04:00 am Cryptocurrency 141

Bitcoin price started another increase above the $23,000 resistance. BTC is rising and the bulls might aim a test of the $25,000 resistance zone.

Bitcoin is gaining pace above the $23,500 resistance zone.

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

There was a break above a key contracting triangle with resistance near $23,145 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could rise further towards $25,000 if it stays above the $23,450 support zone.

Bitcoin Price Starts Increase

Bitcoin price remained well bid above the $22,500 support zone. BTC formed a base and started a fresh increase above the $23,000 resistance zone.

The bulls were able to pump the price above the $23,200 resistance and the 100 hourly simple moving average. The price even cleared the $23,500 resistance zone and traded to a new yearly high at $23,950. During the increase, there was a break above ..

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