$BTC #BTC In January 2021, #Bitcoin experienced a correction, falling to the 20-day EMA due to profit-taking.
However, accumulation at levels below $40,000 paved the way for a steady upward trend. The price broke through key resistances and reached new highs above $50,000, confirming a strong bullish trend.
Bitcoin is rebounding from the 200MA, which is acting as a strong support level following the breakdown of the rising wedge pattern. It is currently trading below the 100MA, which serves as a resistance barrier.