Market Cap: $3,052,473,135,211
24h Vol: $86,926,750,486
Cryptocurrencies: 28005
Markets: 116055
Cryptocurrencies: 28005
Markets: 116055
Market Cap: $3,052,473,135,211     
24h Vol: $86,926,750,486
Seeking Alpha 2023-02-28 06:17:27

Bitcoin: Further Upside As Recovery Continues (Technical Analysis)

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.
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