The world’s largest cryptocurrency has maintained its positive momentum and accumulated approximately 36% returns in January.
BTC has been in a Bear trap, it had hit its low of $15.5K and took support at the resistance trendline as shown in the chart. After consolidating there for 2 months, BTC shot up to the level of $24K and is currently retracing and trading at $22.9K.
The support to the lower side is present at $22K and $21K while it may face resistance at $24K and $25K respectively.
BTC has been in a Bear trap, it had hit its low of $15.5K and took support at the resistance trendline as shown in the chart. After consolidating there for 2 months, BTC shot up to the level of $24K and is currently retracing and trading at $22.9K.
The support to the lower side is present at $22K and $21K while it may face resistance at $24K and $25K respectively.