Bitcoin: Further Upside As Recovery Continues (Technical Analysis)

Summary The new trading year started on a high note for Bitcoin. From its low in November, Bitcoin is currently up more than 53%. Technically, Bitcoin is consolidating the first breakout but already eyeing the next breakout above 25,000. The beaten-down crypto sector is still far from experiencing euphoria or exuberant optimism, and as a result, surprises remain to the upside. Despite a positive outlook in the short term, restrictive monetary policies by central banks as well as increasing regulation remain a big burden for a highly speculative asset like Bitcoin.