Bitcoin’s recent price spikes underline the demand and confidence in the crypto market. This resulted in a significant surge in many cryptocurrencies. However, the price still faces a critical resistance level of $25K before calling the bear market over. The same structure is occurring now; after a massive downtrend, declining to the $15K level, the market experienced a series of capitulation events. It has recently begun an uptrend, surpassing many essential resistance levels. Despite the portrayed resemblances, it might be soon to call it a bull market as it re-emerges.
Source: CryptoVizArt, 2023-02-20; https://cryptopotato.com/heres-the-final-resistance-before-a-potential-rally-to-30k-for-btc-bitcoin-price-analysis/