Bitcoin could see $25K by March 2023 as U.S. dollar prints 'death cross' — analysis
Bitcoin's price recovery in 2023 has witnessed minimal institutional buying, casting doubt on whether BTC will rally beyond $25,000. Bitcoin (BTC) shows the potential of stretching its ongoing price recovery to $25,000 by March, based on a mix of bullish technical and macro indicators. Bitcoin price exits descending channel range First, Bitcoin's potential to hit $25,000 comes from its exit from a prevailing descending channel range. A bull run or bull trap? — Cointelegraph (@Cointelegraph) January 16, 2023 Notably, the BTC price broke out of the range late last week while accompanying a rise in its trading volumes. The cryptocurrency's move upside also pushed the price above its resistance confluence, comprising a psychological price ceiling of $20,000 and its 20-week exponential moving average (20-week EMA; the green wave) near $19,500, as shown below. BTC/USD 1-week candle chart (Coinbase). Source: TradingView.com Breaking three resistance levels with strong volumes ...