Bitcoin price has managed to power through and retain its momentum above the $23,000 mark. Over the past week, the coin displayed bullish momentum. In the last 24 hours, Bitcoin showed minor appreciation, however, it has remained steady above its local support level.
Technical outlook of the king coin also suggested that the bulls have taken control. If Bitcoin price manages to move past the $24,000 price mark and trade there for a considerable period of time, then the bulls could garner further strength.
The cryptocurrency has struggled to remain above the $24,000 price level for a long time.
Buyers also came back into the market and that helped Bitcoin to continue its bullish thesis. There is however always a possibility that Bitcoin might retrace back on its chart if it trades below the $24,000 mark for long enough. In that case, BTC might find support in between $22,000 and $21,000 over the next trading sessions.
Bitcoin Price Analysis: Four Hour Chart
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