Bitcoin on the rise again?

The last days show that there is a serious struggle between sellers and buyers in the market. BTC hit a resistance level at $23,000 and dropped to $22,500 at one point. However, it cannot be said that this level worked fully, since the cryptocurrency did not rebound from it and did not go in a downward direction.

It would be more correct to say that BTC found the $23,000 level, corrected slightly and, apparently, is now ready to continue going up. It should be noted that over the past day, the cost of digital gold at the time of writing has become 1.3% higher than yesterday's figure.

We could observe a local low at $22,300. Having reached this level, BTC turned around again and went up. On the night of the 25th/26th, Bitcoin set a new record in 2023 reaching $23,711, and shortly before hitting a new $24,000 target, it decided to drop to $23,000, where it is now.

Breaking the $23,000 mark means that BTC has broken the bearish trend line with resistance at $23,000. This circumstance can be regarded as a bullish signal.

It is also noteworthy that the level of BTC quotes has become higher than the 100-hour simple moving average, which also indicates a more positive mood among cryptocurrency market participants.

The next major resistance level is at $23,800. By the way, BTC could not break through it last time tonight. If in the end the flagship cryptocurrency manages to go beyond $23,800, then with a high probability this will bring a full breakdown, thanks to which bitcoin can go to the next levels, namely $24,500 or even $25,000.

If BTC fails to break through the nearest resistance levels soon, then the digital asset risks starting to lose its value again. If the support level is broken, the bears may have more power to push BTC much lower. In this case, the fall can be quite impressive.