Bitcoin has been in a range between $15,470 and $18,373 since November 2022. A breakout to the upside occurred on the 13th of January, 2023. Since the breakout, the pressure from the bulls have continued, causing January to end on a bullish note.
The bullish run continued in February and the price of Bitcoin hit a new high at $25,200. After this, the price fell to $19,560 but then the bulls took control again and price headed to $26,530. From a technical standpoint, the bulls are gathering momentum for a major bull run.
Looking at the RSI, price has been oversold since July 2022 on the weekly time frame. As of the time of publishing this article, Bitcoin is at $24,700. Our analysts forecast that in a few weeks, price will reach $30,000 psychological level.
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