Bitcoin displayed a substantial strength recently driven by fear of surrounding a banking crisis and the collapse of several banks in the US, along with a situation with Credit Suisse. BTCUSD has gained as much as +25% in the week, rising to almost $25000 from 20000. Such a bullish rally usually has a high chance of continuation, at least in the short-term perspective.
The $24000 area may become an intermediate-term rotational zone, which would act as a magnet for the price for a while, after which it would be logical to observe another bullish swing towards $28000 or higher.
The $24000 area may become an intermediate-term rotational zone, which would act as a magnet for the price for a while, after which it would be logical to observe another bullish swing towards $28000 or higher.