Can Bitcoin bulls seal the best January in a decade for BTC this week?
The move, although short lived, marked the pair's third such attempt to take sell-side liquidity above $23,400 in recent days.
In each instance, bulls appeared to lack momentum to reclaim new support levels, and at the time of writing, the status quo remained the same, with Bitcoin trading just below liquidity at $23,250.Previous order book data from Binanceto Twitter by monitoring resource Material Indicators demonstrated the firepower needed to neutralize bears.
As of Jan. 27, resistance was stacked at $23,200, $24,500 and $25,000, with the latter nonetheless still on traders' radar as a potential next target.Twitter followers in part of comments on the day.Crypto Tony additionally expected a move higher on altcoins, with the overall crypto market cap set for a retest of resistance above the $1 trillion mark.
"I am still looking for a decent move up over the next few weeks, BUT Be cautious when we begin tapping the $1.2 - $1.33 trillion market cap resistance level. This is a significant level and I expect strong resistance here," heLike others, however, Crypto Tony remained cautious on longer timeframes, keeping the door open for a new macro low to appear on Bitcoin and altcoins at some point in 2023.
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