As the cryptocurrency has climbed, the bulls appear to have control of the BITCOIN price. BTC has risen more than 7% in the previous 24 hours on its c
As the cryptocurrency has climbed, the bulls appear to have control of the BITCOIN price. BTC has risen more than 7% in the previous 24 hours on its chart. The cryptocurrency has gained more than 8% in the last week. This has pushed Bitcoin’s price above $20,000, putting it in a bullish position. Buyers have returned to the one-day chart as demand for the coin has increased significantly.
The bulls may aim for the next significant resistance level of $22,000, but the coin must first clear two important price levels. If buyers leave the market again, a price decline appears on the chart. This shift in Bitcoin’s bullish momentum has also driven enormous rallies for the market’s biggest altcoins.
BTC/USD
The next few trading sessions will be critical for the coin, as they will determine the strength of the bulls. A drop from the present price level will return BTC to the $19,000 price range.
Bitcoin (BTC/USD) Technical Outlook
At the time of writing, BTC was worth $20,800 and the coin has finally broken out of its protracted consolidation phase. Now that the coin’s range-bound movement has ended, there are significant price levels that Bitcoin must breach to hit the $22,000 price level.
The coin’s immediate resistance was $21,100, and the other price level was $21,600. If the bulls lose strength or there is a price pullback, Bitcoin may return to $19,700.
Good luck!
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