If Bitcoin price manages to move past the $24,000 price mark and trade there for a considerable period of time, then the bulls could garner further strength.
The cryptocurrency has struggled to remain above the $24,000 price level for a long time.
Bitcoin Price Analysis: Four Hour ChartBTC was trading for $23,300 at the time of writing.
The current price action could also be termed as a relief, this is because the moment Bitcoin price hit the $24,000 mark, the coin retraced on its chart.
Bitcoin price was above the 20-SMA line which also signalled that buyers were driving the price momentum in the market.
Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by TokenAround.