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Bitcoin, Ethereum Technical Analysis: BTC Rebounds, as Bulls Reject Breakout of Key Support Level

February 7, 2023

Category:

Bitcoin

Bitcoin (BTC) rebounded from Monday’s lows in today’s session, with prices racing back above the $23,000 level.

Following a low of $22,692.03 to start the week, BTC/USD raced to an intraday high of $23,119.28 earlier in the day.

The move comes as bitcoin bulls rejected a move towards a long-term support point at $22,500, and instead bought the dip.

Looking at the chart, today’s rebound sees BTC snap a five-day losing streak, which came following a six-month high last Thursday.

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