Month: January 2023

Bitcoin and other top altcoins continue to consolidate near their recent highs, increasing the possibility of an upside breakout. The leading cryptocurrency (BTC) managed to add around 9% this week and is now battling for the important level at $23,000.

Overall, the market has been in a significant uptrend, as Bitcoin price has risen almost 40% to $23,000 this month, the steepest gain since October 2021. As the market cools off, traders have another decision to make. Will they add to their positions, or is it time to call an end to the surging rally?

Bitcoin prices (BTC) have made a remarkable recovery over the past seven days, driving it above $20k. Despite growing concerns of a global recession, BTC/USD has risen over 26% this month, pushing prices to another barrier of resistance at the November high of $21,473.

Bitcoin and some key altcoins are showing signs of starting a sustained recovery and over the next few days will determine if this can establish an uptrend.