Syed Imran Haider 
It seems that the curse the year 2022 had put on the entire cryptocurrency industry has finally started to lift off.
The entire cryptocurrency market seems to have started picking up the pace since the year 2023 has begun. Whether it is the major cryptocurrencies or the small ones, they are all seeing greens.
The situation has been the same for Bitcoin (BTC), which is also doing quite well compared to the performance it delivered in the past few months.
Especially after the November crash, the value of Bitcoin had found it difficult to recover. Finally, the situation has started to improve pertaining to cryptocurrencies and Bitcoin is also feeling the same.
Bitcoin Bulls are in Strong Spirits
The latest data collected for Bitcoin shows that the sentiments of the buyers are high and so is their confidence. They are confident that they will be able to fight off the bears as the New Year has begun.
Their strong confidence has been demonstrated through the strong buying of Bitcoin which has resulted in a significant rally.
The report shows that in the past 24-hours, the price of BTC has surged over a strong resistance level of $16,600.
At the time of writing, the trading price of Bitcoin is at a high of $16,857, after experiencing an almost 1% rally. Given the performance of Bitcoin in the last quarter of 2022, it is quite the rally recorded by BTC.
In the process, the bulls even managed to cross another strong resistance level at $16,785.
Next Targets for the Bulls
As the price of Bitcoin has risen over the $16,785 level and has moved much higher than that, the bulls have won a major battle against the bears.
They have forced the bears to retreat from the particular level turning into a strong support level. Even if the price of Bitcoin starts to decline, $16,785 will act as the immediate support level for the largest crypto.
The situation is to provide more confidence to the bulls who will be able to push the trading price of Bitcoin to a high of $16,950.
From the looks of it, the bulls will be able to make it happen as they are not losing any battle against the bears. So far, their buying power has continued to surprise the bears, causing them to flee.
Then the next challenge for the bulls would be to cross the $17,000 level. For a long time, the bulls have wanted to cross a particular level to demonstrate a stronger rally.
This will eventually bring more investors to their side, wanting to support the rally. If things work out, then the trading price of Bitcoin will surge to a high of $17,250.
