Bitcoin has its work cut out to beat multiple long-term resistance levels in February, rektcapital shows.
) is leaving traders guessing as the future of the bull market depends on the last week of February.
After a consolidatory start to the month, February has turned out to be something of a reckoning point for Bitcoin price strength. Gains have been a lot harder to cement than in January, when BTC/USD finished up nearly 40%. The weekly chart perhaps represents the biggest struggle in the wake of the 2022 bear market. Bitcoin is currently attempting to beat out an area of resistance it failed to vanquish last August, so far without success.
On monthly time frames, an equally tense situation is developing. Here, too, BTC/USD is “getting very close to breaking the Macro Downtrend,” Rekt Capital says.
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