The cryptocurrency market has welcomed the arrival of 2023.
With the start of 2023, Bitcoin, which fell to 15 thousand dollars, rose to 30 thousand dollars with a rally. Price analysis for Bitcoin, which has been circulating where it has been for the past few days.
BTC Price Analysis
When we examine Bitcoin price action, it shows that the pair has slowly emerged from the last drop and is trying to rise above $30,000. Currently, Bitcoin is trading at $29,800 and if it continues higher, we could see it retest $30,000 in the near term.
On April 24, the BTC price dropped to $27,005, its seven-day low. However, bullish momentum and buying pressure pushed the pair back above $29,000.
The 20-EMA provided strong support and if buyers can break above the $30,000 level, we could see a retest of all-time highs.
The weekly technical indicators are giving a somewhat mixed signal as the RSI is still below 60 while the MACD has climbed above zero. The buying pressure indicated by the MACD shows that investors are looking to buy BTC every time it drops towards the $29,000 level.
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